Is It Too Late to Buy Stellar? XLM Price Blasts Up 12% and This Innovative Startup Can Find the Next Crypto to Explode
Stellar Lumens (XLM) has been undertaking a dramatic +12% comeback as anticipation builds surrounding an upcoming announcement from the Stellar Development Foundation (SDF).
The SDF is a non-profit developers foundation; dedicated to growing and improving the XLM ecosystem towards the ultimate goal of empowering fluidity in the global economy.
Best known for providing the backbone to USDC – XLM has emerged as a leading Layer-1 for stablecoin blockchains, with the network gaining traction amongst payment companies such as Airtm and Bitso.
The sudden +12% move was triggered by a cryptic tweet from the Stellar Lumens twitter account, which catalysed a frenzy of XLM community excitement.
XLM Price Analysis: Can XLM Sustain Rally Ahead of Announcement, Is it Too Late to Buy Stellar?
Amid the upside swing, Stellar Lumens is currently trading at a market price of $0.126 (representing a 24-hour change of +1.8%).
This comes following an impressive +16% recovery rally since Sunday (September 3), which saw XLM bounce from double-bottomed support at the $0.10 price level.
The upside swing is a significant strengthening of technical structure, with price smashing back above the 20DMA yesterday (September 4) to establish a new level of supportive footing at $0.12.
With price action now atop the 20DMA, following a welcome golden cross on July 1, upside targeting is now unhinged from moving average resistance.
Despite the upside move, the RSI has yet to overheat – shifting from an oversold signal at 37 to an on-the-fence 51 with the recent push up.
This could trigger a need for a brief consolidation at this level atop the 20DMA, until the RSI cools off sufficiently.
The MACD on the other-hand has flipped bullish on the recent pump, now signalling bullish divergence at 0.000845.
Overall, XLM looks strong here, with solid support established and positive fundamental winds building alongside anticipation over the upcoming SDF announcement.
This leaves XLM with an upside target at $0.1675 (a possible +32.68%).
While downside risk from here is limited by local support at $0.11 (a potential -12.87%).
This leaves Stellar Lumens with a risk: reward ratio of 2.54, an attractive entry with more than double reward structure.
But while XLM enters a period of brief consolidation on the short-time frame, smart traders are already seeking alpha for the next big move – leveraging the power of AI analytics through an emerging crypto insights platform.
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.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
