XLM Regains 30% in New Year, Bitcoin (BTC) Faces Problem, Shiba Inu (SHIB) Breaks Key Resistance: But Almost No Upside
The post XLM Regains 30% in New Year, Bitcoin (BTC) Faces Problem, Shiba Inu (SHIB) Breaks Key Resistance: But Almost No Upside appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The year has begun well for Stellar Lumens as evidenced by the remarkable 30% price recovery. This spike occurs as XLM crosses the 50 EMA, a key sign of possible trend reversals and fresh market bullishness. Thanks to a favorable market environment and increased trading activity, XLM has gained traction and is currently trading around $0.45. Being a significant technical milestone, the break above the 50 EMA is especially remarkable. Historically, a bearish phase has ended and a more persistent upward trend has begun when this moving average is crossed. Around $0.50, a psychological and technical resistance level, is the next possible price target for XLM. XLM/USDT Chart by TradingView With the momentum and general market optimism, a rally toward $0.60 may be in the cards if the asset is able to overcome this obstacle. With altcoins like XLM gaining ground and Bitcoin holding steady, the market as a whole has shown indications of stabilization. A retracement could also occur if it is unable to hold above the 50 EMA, testing support levels at $0.39 and $0.30. Bitcoin gets ready Bitcoin is in a pivotal stage as 2025 gets underway, with its price circling $96,700. Signs of a possible slowdown are emerging even though the asset has been able to hold onto a large portion of the…
Filed under: News - @ January 4, 2025 2:08 am