Stellar (XLM) Sees Bullish Momentum Amid Ecosystem Growth and Market Optimism
In the past 24 to 72 hours, Stellar (XLM) has experienced notable price movements, with a 12% increase, bringing its price to around $0.102. This rise is attributed to increased market interest and a developing bullish reversal pattern known as the “rounding bottom.” The surge in XLM’s market cap to $2.98 billion and a 120% increase in trading volume suggest renewed buying interest from investors( CoinGape ).
Technical Outlook and Market Sentiment
Stellar’s recent break above its 50-day EMA signals a positive medium-term trend, and it has cleared a key resistance at $0.10. If this momentum continues, XLM could target the next resistance level around $0.12 by the end of 2024. Analysts also highlight the potential for further gains as investors look ahead to a potential crypto bull run in the latter half of the year( Cryptonews ).
Read More: https://onthenode.com/cryptocurrency/stellar-xlm-sees-bullish-momentum-amid-ecosystem-growth-and-market-optimism
In the past 24 to 72 hours, Stellar (XLM) has experienced notable price movements, with a 12% increase, bringing its price to around $0.102. This rise is attributed to increased market interest and a developing bullish reversal pattern known as the “rounding bottom.” The surge in XLM’s market cap to $2.98 billion and a 120% increase in trading volume suggest renewed buying interest from investors( CoinGape ).
Technical Outlook and Market Sentiment
Stellar’s recent break above its 50-day EMA signals a positive medium-term trend, and it has cleared a key resistance at $0.10. If this momentum continues, XLM could target the next resistance level around $0.12 by the end of 2024. Analysts also highlight the potential for further gains as investors look ahead to a potential crypto bull run in the latter half of the year( Cryptonews ).
Read More: https://onthenode.com/cryptocurrency/stellar-xlm-sees-bullish-momentum-amid-ecosystem-growth-and-market-optimism
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