Stellar (XLM) Sets up for $0.30 Skyrocketing: Here's Why

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8 hours ago

As the market's momentum gradually shifts back toward mid-cap altcoins, Stellar seems to be putting on a show. Despite being overshadowed by more prominent players like Bitcoin, Ethereum and XRP, XLM's technical setup now indicates increasing potential for a breakout toward the technically and psychologically significant $0.30 level


The 50 EMA, 100 EMA and 200 EMA are the three main exponential moving averages that Stellar has successfully regained, according to the daily chart. This alignment points to a return of midterm control by bulls. The fact that XLM has been able to stay above the 200 EMA, which served as a fundamental support level during the most recent market decline, is more convincing.



XLM/USDT Chart by TradingView

Though it has been steadily increasing, the volume is still quite low, which suggests that accumulation is probably happening in the background. In the past, the $0.30 level has functioned as a local resistance. If this volume increases, XLM may challenge it and use it as a launchpad for more aggressive price action. The structural situations of XLM and XRP are comparable. 


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XRP is now close to significant long-term resistance around $3 after breaking above its declining trendline and soaring toward $2.60. This month, XLM is following the same pattern as XRP despite being structurally less explosive because of its smaller market cap and lower liquidity. If the correlation is accurate, Stellar might only be a strong candle or two away from making its own aggressive push.


There is a catch though: XLM's expansion is contingent upon the market's overall level of risk tolerance. A decline in majors like ETH or BTC could throw this arrangement off. XLM has a genuine chance of reaching $0.30, a level that might change sentiment and pave the way for additional highs not seen since early 2022 if market stability holds.


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