Stellar Continues to Soar with Over 10% Increase in Price
Stellar (XLM) has experienced a significant surge in its token price, rising above $0.0850 against the US Dollar following a wave of growth in XRP. This surge has seen the digital asset surpass Bitcoin, showcasing a gain of more than 10% in the short term.
The price of XLM broke through the $0.0950 and $0.100 resistance levels, reaching the $0.1050 zone before hitting a high of $0.1043. Currently, the price is consolidating its gains after a minor dip below the $0.10 level, testing key support levels.
XLM is presently trading above the $0.10 resistance level and the 100 hourly simple moving average. Additionally, a significant bullish trend line is forming with support around $0.0980 on the hourly chart of the XLM/USD pair.
– Immediate resistance near $0.1050 level
– Major resistance at $0.1120 level, with potential to test $0.1150
– Upside momentum could extend to $0.1200 and $0.1250 levels
– Subsequent targets at $0.1300 and $0.1320
Potential Support for XLM Amidst Price Fluctuations
In the event that XLM faces challenges in sustaining its upward momentum, a downward correction may occur. Key support levels to watch include the $0.0980 level and the established bullish trend line.
Further support can be found near the $0.090 level and the 100 hourly SMA. A decisive break below the $0.0900 support area could trigger a new downtrend, with the next significant support resting at the $0.080 level.
– Hourly MACD showing bullish signals for XLM/USD
– Hourly RSI indicating strength above the 50 level
– Major support at $0.0980 and $0.0900
– Significant resistance at $0.1050 and $0.1200
Hot Take: Stellar Shines Bright Amidst Market Volatility
As Stellar (XLM) continues its impressive price rally, the digital asset stands out with its resilient performance amidst market fluctuations. With strong support levels in place and bullish indicators gaining momentum, XLM’s upward trajectory remains intact, positioning it as a noteworthy contender in the cryptocurrency space.
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