Stellar (XLM) Jumps 10% as Buyers Take Charge
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Stellar (XLM) has made an impressive surge of over 10% in the past 24 hours, aiming to bounce back from a 15% correction experienced over the last month. Despite this positive shift, XLM is currently at a crucial juncture, with its market cap now standing at $8.6 billion.

Technical analysis indicates a significant increase in buying pressure as both the DMI and CMF indicators point towards a growing accumulation. However, XLM is still encountering key resistance levels. The sustainability of this uptrend will be pivotal in determining whether the price can breach the $0.35 mark or face further consolidation.

Stellar's chart suggests that buyers have taken control. The Average Directional Index (ADX) has decreased to 28.7 from 35.6, signaling a weakening bearish trend and a potential shift in momentum.

The Directional Indicators exhibit a notable shift, with +DI surging to 31.2 and -DI declining to 16.4. This change suggests that bulls are regaining dominance after a period of strong selling pressure, indicating a shift towards an uptrend.

Stellar's Chaikin Money Flow (CMF) indicator has also shown a positive trend, rising to 0.13 from -0.14, indicating increased buying pressure and potential accumulation by investors.

Despite the bearish trend indicated by the EMA lines, a recent uptick in short-term EMAs hints at a possible trend reversal. If buying pressure persists, Stellar's price may target the key resistance level at $0.309, with further upside potential towards $0.349 and $0.375 in a stronger uptrend scenario.

On the contrary, failure to maintain the upward momentum could expose XLM to renewed selling pressure, with key support levels at $0.273 and $0.252. A deeper correction towards $0.226 may occur if bearish momentum intensifies.

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