The post Stellar (XLM) set for 25% rally, Buy signal flashing, expert says appeared on BitcoinEthereumNews.com.

Stellar (XLM) could soar by 25% to reach the $0.45 level if it holds the $0.35 level. Currently, 65.4% of top traders on Binance hold long positions, while 34.6% hold short positions. XLM, the native token of Stellar, is poised to reverse its downside momentum due to the formation of bullish price action, as reported by a prominent crypto expert. Buy signal for XLM, says expert On 23rd December, the expert shared a post on X (formerly Twitter), highlighting that a technical indicator called TD Sequential is flashing a buy signal for XLM. Source: X (previously Twitter) In addition, the expert further noted that the altcoin’s price could rally only if it holds the $0.33 level; otherwise, it may fail. XLM technical analysis and key levels  According to AMBCrypto’s technical analysis, XLM appears to be consolidating in a tight range between $0.34 and $0.39, near a crucial support level of $0.347, over the last four trading days. Source: tradingView This ongoing consolidation will determine the future direction of XLM’s price. Based on recent price action and historical momentum, if the altcoin holds this support level, there is a strong possibility it could soar by 25% to reach the $0.45 level. Conversely, if it fails to hold this level and closes a daily candle below the $0.33 mark, the price could decline by 33% to reach the $0.22 level in the future. The XLM daily chart indicates that the price is overstretched and significantly far from the 200 Exponential Moving Average (EMA), though it suggests that the asset remains in an uptrend. Bullish on-chain metrics  In addition to this bullish outlook, long-term holders and traders have started showing interest in the token as it approaches a key support level, according to the on-chain analytics firm Coinglass. Data from XLM spot inflow/outflow…

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Filed under: News - @ December 24, 2024 3:23 am