CandleFocus

Stellar (XLM) Reclaims $13 Billion Market Cap With 16% Rise In 24 Hours

The price of Stellar (XLM) has surged over 16% in the last 24 hours, recovering its $13 billion market cap and indicating strong bullish momentum. Technical indicators suggest that XLM is poised for further gains, but it may encounter resistance at key levels such as $0.47. The Relative Strength Index (RSI) is currently above 70, highlighting heightened buying activity and the potential for a near-term pullback or consolidation. The Ichimoku Cloud chart shows a strong bullish setup, with the price positioned well above the red cloud and buyers firmly in control. The formation of a golden cross in the EMA lines further reinforces the bullish momentum. If the current uptrend continues, XLM could test the $0.47 resistance level and potentially reach $0.50. However, failure to hold the $0.41 support level could lead to a sharp decline with the next strong support at $0.31.

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