Stellar (XLM) Takes Investors By Surprise With 23% Rally

2023-7-2 09:17

Stellar (XLM), the decentralized blockchain platform aiming to revolutionize the world of cross-border transactions and digital asset transfers, has emerged as one of the most promising cryptocurrencies in today’s market. 

With its recent surge, Stellar has garnered significant attention and is rapidly becoming one of the biggest gainers of the day. As Bitcoin’s price continues to climb, it has sparked renewed interest and enthusiasm in the overall cryptocurrency market, benefiting altcoins like Stellar.

This bullish momentum is not only a testament to the platform’s technological advancements but also to the growing recognition of its potential to disrupt traditional financial systems.

XLM Shows Strong Rally, But Traders Should Watch Out

XLM has recently witnessed a notable rally of 4.6% within a 24-hour period, propelling its price to $0.109, as reported by CoinGecko. Moreover, over the past seven days, XLM has demonstrated a significant surge of 22.6%. These positive price movements have captured the attention of investors and traders alike, signaling a bullish sentiment in the market.

Despite the encouraging rally, a new XLM price report advises higher timeframe traders to remain prepared for a possible range rather than a breakout beyond a crucial resistance level. On the 1-day price chart, the $0.0935 level represents the previous lower high for XLM.

However, on June 27, the price successfully broke past this resistance level with substantial trading volume. This breakout was followed by consecutive days of upward movement, without any significant retracement, indicating a strong bullish trend in the market.

Looking ahead, if XLM experiences a dip in the coming days, the $0.1 level could potentially serve as a support level for the cryptocurrency. This implies that if the price retraces, there may be a higher chance of finding support around the $0.1 mark, offering some stability to XLM’s price action.

Correlation Between Bitcoin And Altcoins

Historically, Bitcoin has exhibited a positive correlation with many altcoins. This means that when Bitcoin’s price surges, altcoins tend to follow suit, amplifying the overall bullish sentiment in the market. The recent rally in Bitcoin has likely created a favorable environment for altcoins, including XLM, leading to their upward price movements.

However, it’s essential to note that while altcoins often experience a positive correlation with Bitcoin during bullish phases, their performance can vary. Some altcoins may outperform Bitcoin, while others may underperform. Therefore, it’s crucial for investors and traders to conduct thorough research and analyze the specific factors influencing each altcoin’s price trajectory.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Forex Academy

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Stellar (XLM) на Currencies.ru

$ 0.11 (-0.68%)
Объем 24H $51.406m
Изменеия 24h: -1.22 %, 7d: -4.11 %
Cегодня L: $0.11 - H: $0.1119
Капитализация $3.183b Rank 37
Цена в час новости $ 0.107 (2.8%)

stellar xlm emerged asset digital one transfers

Источник: newsbtc.com

stellar xlm → Результатов: 126


Stellar (XLM) and Monero (XMR) Survive Altcoin Bloodbath As Pullix (PLX) Gains Serious Attention

The declining market performance of Monero (XMR) and Stellar (XLM) has prompted numerous holders to delve into the world of valuable crypto gems. Hence, many investors have embraced new projects like Pullix (PLX) which have demonstrated significant potential to rank among the best cryptocurrency to invest in for high returns.

2024-2-1 11:04


Traders Eye Key Support Levels as Stellar’s XLM Consolidates Recent Gains – Time to Buy the Dip?

Stellar’s native token, XLM, has experienced a tumultuous month. Over the past 30 days, the price of XLM has seen a modest decline of 4%. This downtrend is not isolated to Stellar alone. Ripple’s XRP, a cryptocurrency often seen as a close counterpart to Stellar, has also been on a downward trajectory, plummeting by a […] The post Traders Eye Key Support Levels as Stellar’s XLM Consolidates Recent Gains – Time to Buy the Dip? appeared first on CaptainAltcoin.

2023-8-14 19:30


XLM готовится к ралли после запуска моста Stellar с Ethereum

Токену XLM, возможно, предстоит ралли, поскольку проект объявил о запуске моста Starbridge, который соединит Stellar с сетью Ethereum. Теперь пользователи смогут обмениваться средствами между двумя сетями.

2022-3-28 10:55


Stellar To Deploy Smart Contracts By End Of 2022? XLM Reacts To The Upside

Stellar (XLM) records a positive performance in 24-hours as the crypto market in general recovers from its sell-off. As of press time, XLM trades at $0. 20 with a 4. 8% profit in the last day. Related Reading | Stellar Development Foundation Launches New Account Model, How Users Will Benefit On January 25th, Stellar Development Foundation (SDF) Vice President of Technological Strategy Tomer Weller announced via Twitter the integration of smart contract on this network.

2022-1-27 21:00


Сегодня состоится голосование по важному обновлению Stellar

Сегодня 1 июня с минуты на минуту валидаторы Stellar (XLM) должны проголосовать за самое важное обновление сети. Согласно официальному заявлению некоммерческой организации Stellar Development Foundation, занимающейся разработкой блокчейна Stellar (XLM), валидаторы голосуют за обновление протокола 17.

2021-6-1 16:38


Everything You Want to Know about Stellar, (XLM) and Why it’s Getting Added to 1xBit

Bitcoin Press Release: Stellar is perfect cryptocurrency for betting sites and 1xbit is taking full advantage of this as it announces support for XLM.  3rd May 2021, Limassol, Cyprus — As the cosmic space itself Stellar (XLM) coin poses as many questions from “Which is better – Stellar or XLM?” to “What are its unique […] The post Everything You Want to Know about Stellar, (XLM) and Why it’s Getting Added to 1xBit appeared first on NullTX.

2021-5-5 16:00


Фото:

XLM pumps and dumps: What’s next for Stellar?

Stellar (XLM) surged as much as 33% in just one hour as several technical indicators turned bullish, but quickly lost almost all of it as the day progressed. What’s next in the store for Stellar and should you consider buying XLM? Fundamental analysis: fundamentals stay the same, technicals caused the pump Stellar is a Ripple […] The post XLM pumps and dumps: What’s next for Stellar? appeared first on Invezz.

2021-1-30 21:12


Фото:

Stellar прекращает бесплатную раздачу 120 миллионов долларов в монетах XLM

Stellar Development Foundation не будет раздавать бесплатные два миллиарда XLM. Разработчики сетуют, что столкнулись с «ордами фейковых аккаунтов», которые жаждут бесплатной наживы. Напомним, в сентябре мы опубликовали инструкцию для тех, кто хотел поучаствовать в аирдропе Stellar за установку приложения Keybase....

2019-12-13 13:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Stellar To Release Protocol 20 Testnet Upgrade, Will XLM Rally?

On September 20, Stellar, a blockchain platform designed to facilitate fast and low-cost cross-border transactions using its native currency, XLM, will release the testnet upgrade of Protocol 20. With this launch, the protocol prepares for the eventual mainnet activation of the Soroban smart contracts platform.