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Stellar price jumped 18% in the past 24 hours to trade at $0.426 as of 2:42 a.m. EST on trading volume that soared 377% to $1.7 billion.
Stellar price on a bullish trend reversal
THE XLM Price has been in a consolidation phase for several months, trading below the 200-day moving average (MA) at $0.1675 for a significant portion of the year.
However, a strong rally began in November, propelling the price above the 50-day SMA ($0.3799) and the 200-day SMA, which now serve as support levels, according to data from GeckoTerminal.
The recent pullback has created a descending channel, a classic bullish continuation pattern. Notably, XLM just broke the upper boundary of this channel, supported by higher trading volumes, indicating a likely continuation of the uptrend. The next major resistance is around the $0.55 level, as indicated by the arrow on the chart.
The relative strength index (RSI) stands at 59.16, indicating bullish momentum without overbought. There is enough room for further appreciation in XLM price before reaching the overbought zone (>70).
Additionally, the Moving Average Convergence Divergence (MACD) line (blue) has crossed above the signal line (orange), a bullish signal suggesting increasing upward momentum. The histogram has moved into positive territory, which further confirms a bullish reversal.
XLM Price Prediction
Based on the current chart structure and indicator readings, Stellar price appears poised for further gains.
The breakout of the descending channel projects a potential move towards the $0.50 to $0.55 range, where significant resistance lies. If Stellar price holds above the $0.38 to $0.40 support zone, the bullish scenario remains intact.
Longer term, if the broader cryptocurrency market remains supportive, a break above $0.55 could target higher levels near $0.60 to $0.65.
However, if the support level fails to hold the $0.38 support level, Stellar price could retest the 200-day SMA at $0.1675, which would act as a critical support zone.
As the price of XLM rises, investors looking for new opportunities might consider a new coin ICO called Flockerz (TROOP). According to 99Bitcoins, a popular crypto channel on YouTube with over 720,000 subscribers, $FLOCK has the potential to be the next 100X meme coin.
Buy Flockerz before the presale ends – Only 20 days left
Flockerz has raised over $8.4 million in its presale as investors embrace its unique vote-to-win (V2E) mechanism, a feature designed to empower its community to drive its future.
Simply put, token holders are paid in FLOCK for voting on key proposals.
With V2E, Flockerz sets a new standard in decentralized governance, allowing the community to influence the direction of the project by voting directly through its community governance system, Flocktopia.
Everyone at Flocktopia is always there to lend a hand, no matter what you need!
Even if it’s just a little support. 💙💙 pic.twitter.com/b6zuvBbf41
– Flockerz (@FlockerzToken) December 15, 2024
In Flocktopia, decisions regarding the future of the project are made collectively by “The Flock”, the community of $FLOCK holders. Each member has a say, making the platform a truly decentralized and inclusive environment.
In addition to V2E rewards, users can also earn passively through the platform’s staking mechanism, which offers a whopping 325% annual return.
To participate in the presale, you can buy $FLOCK on the official website for $0.0065823 per token using BNB, ETH, USDT or bank card. Buy before the presale ends in 20 days.
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