Stellar (XLM) Price Breaks Bearish Streak With 12% Price Increase

Stellar (XLM) has shown resilience in the crypto market, making a notable recovery after a period of weakness. Over the past 24 hours, XLM has gained 3%, solidifying its position in the top 20 cryptocurrencies. With a bullish technical setup forming, analysts believe the altcoin could be on the verge of a significant upward move.

Read Stellar Price Prediction or more detailed insights

XLM’s Bullish Setup: A Strong Foundation

Crypto analyst Ali Martinez, known for his insightful market analyses, has pointed out that XLM is forming a bullish flag pattern. This technical formation often signals the potential for a breakout. Notably, XLM has managed to hold support at $0.236 and has started climbing again. If the token maintains its position above this crucial level, an 18% price increase could be on the horizon, pushing it to $0.33.

Key Resistance and Breakout Targets

Looking further ahead, Martinez suggests that if XLM manages to close above $0.35, the market could witness an explosive rally. In this scenario, the price could surge by 65%, reaching an impressive $0.605. However, there is a significant obstacle: the 200-day Exponential Moving Average (EMA), which is currently acting as resistance. A decisive breakout above this level could propel XLM toward faster gains.

Also Read: Toncoin Price Prediction 2025, 2026 – 2030

What’s Next for XLM?

With positive technical indicators in play, Stellar’s near-term prospects look promising. Traders and investors will closely watch whether XLM can sustain its momentum above support and breach key resistance levels. If it does, the altcoin could experience a strong bullish run, rewarding those who hold on for the ride.

As always, investors should stay updated on market trends and risk factors before making decisions in this ever-volatile crypto space.

Comments

Post a Comment

Popular posts from this blog

Will ETH rally continue past $2,600 support?

Image
Ethereum has been showing some significant movement in recent weeks. Let’s break down the latest trends and  ETH price predictions  in simple points for easy understanding. 1.  Current Price Movement and Key Levels Ethereum is trading around its 50-day Exponential Moving Average (EMA) at  $2,601 . On September 19, ETH broke above a descending trendline, leading to an  11% rally . If the  50-day EMA  holds support, ETH could continue its rally and retest the  August 24 high of $2,820 . However, if the price falls below  $2,601 , it may drop further to  $2,461  and potentially retest the  September 6 low of $2,152 . 2.  RSI Signals: What Does It Say? The  Relative Strength Index (RSI) , currently near  55 , indicates weak bullish momentum. For the rally to gain traction, the RSI needs to rise above  60 , signaling stronger buying power from investors. If RSI remains below 55, the market could continue to see l...
Read more

Can Ethereum reach $2,820 this week?

Image
Ethereum (ETH) has seen a significant rise, gaining over 3% in the past 24 hours. The price jump brings ETH to $2,493, after an intraday low of $2,411.11 and a high of $2,511.43. This surge has occurred despite weekly outflows of $30.69 million from Ethereum ETFs. As of today, Ethereum’s market cap is sitting at $300.34 billion. Meanwhile, whale activity over the weekend has sparked contrasting speculations among investors. Whale Alert data shows large ETH dumps to exchanges, creating uncertainty in the market. Before diving into the Ethereum price forecast, check out  Solana price predictions  to discover what's next for this popular altcoin. Ethereum Retests Critical Resistance Ethereum is retesting a crucial daily resistance level around $2,461. This level is important for several reasons: It lines up with the 50% price retracement level at $2,487. It coincides with the 50-day Exponential Moving Average (EMA) around $2,557. These technical factors combine to create a key re...
Read more

Is Pepe set for a massive breakout?

Image
In less than 24 hours, something big is expected to shake the entire cryptocurrency market, and Pepecoin  could be at the center of this storm. We’re going to break down the key factors driving this potential shift, from interest rate cuts to major players like Bitcoin and Binance. Let’s dive in. 1. FOMC Meeting: The Calm Before the Storm The crypto market seems quiet right now, but it's likely the calm before the storm. The Federal Open Market Committee (FOMC) is about to announce a key decision on interest rates, and this could rock the market. This will be the first possible rate cut since March 2022. Predictions are all over the place. Some think it could be a 25 or 50 basis point cut, while others speculate no change at all. Historically, lower rates drive up asset prices, including Bitcoin, which could mean a rally in altcoins like Pepe. 2. Impact on Pepe and Bitcoin The interest rate decision will have a ripple effect on the broader market, especially on Bitcoin, which tend...
Read more