Stellar (XLM) Price Gains 9%, Will it Rise Further?
- Stellar price rose 9% in the last 24 hours, showcasing bullishness.
- The XLM token price held $0.286 support and showed a bounce back.
Stellar price analysis suggests bulls are returning to track, and more scope for upside is open. XLM found support near $0.286 and showed a sharp bounce, demonstrating the presence of buyers at the lower levels. Moreover, the community sentiment is also bullish. 87% of the community sentiment is bullish at XLM, and 13% is bearish.
Stellar price shot up 17% in the last 2 days, bouncing back from the 200-day EMA level. It triggered the positive sentiment and ignited bullish momentum. Moreover, the trading volume also increased, and the price followed the same. It indicates that buyers are active at lower support, and investors might witness a short-term upside rally.
According to CMC data, at the time of writing, the XLM token price is trading at $0.3229 with an intraday uptick of 9.08%. In the last 24 hours, trading volume increased by 66%, and the volume-to-market ratio stands at 4.25%, suggesting good liquidity. Its market cap stands at $9.9 billion, with a daily trading volume of $426.43 million.
Will Stellar (XLM) Price Broke Above 200-Day EMA?
Source: Tradingview
Despite the bullish performance in the last two days, XLM has to break the $0.348 level to start a fresh bullish rally. The price analysis suggests bulls have more power compared to sellers right now and are trying their best to give the follow-up momentum.
Indicators are showing a neutral perspective as the price is still in the middle of the 50-day and 200-day EMA levels. RSI is at 46.66 in the neutral territory, and MACD is currently in the bearish zone.
Moreover, the trading view technical summary also supports the analysis. As per the technical summary, out of 26 indicators, 9 are on the sell side, 10 are on the neutral side, and 7 are on the buying side, suggesting neutrality.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
