Stellar (XLM) has emerged as a standout performer in the cryptocurrency market, surging by over 32% in the last 24 hours to trade at $0.1996. This dramatic rise saw its market capitalization hit $5.98 billion with a trading volume of $3.09 billion, placing Stellar at #23.
The broader crypto market also showed strength, with altcoins like Ripple (up 11%) and Solana (up 8.67%) adding to the momentum.
Stellar’s breakout follows its completion of a 38.2% Fibonacci retracement, with support stabilizing at $0.1980. If the bullish sentiment continues, resistance at $0.2145 could become the next critical level to watch.
Stellar Price Prediction: Technical Analysis and Key Levels in Focus
Currently, XLM’s bullish momentum is supported by its 50-day Exponential Moving Average (EMA) at $0.1600. Resistance lies at $0.2145, with subsequent hurdles at $0.2278 and $0.2403. On the downside, support holds at $0.1980, with additional levels at $0.1847 and $0.1716.
The Relative Strength Index (RSI) of 64 suggests buyers are still in control but also warns of potential overbought conditions.
A break above $0.2145 could spark a rally toward $0.2278 and $0.2403, while losing support at $0.1980 may lead to retracements toward $0.1847.
Stellar Price Prediction
XLM holds support at $0.1980, with resistance at $0.2145. RSI at 64 signals bullish momentum but warns of overbought risks. Bounce-off or retrace next?#XLM pic.twitter.com/DEiWRJJpEW
— Arslan Ali (@forex_arslan) November 17, 2024
Market Implications and Altcoin Trends
Stellar’s performance reflects broader altcoin optimism. Bitcoin dominance has dipped to 57.21%, signaling stronger participation in altcoins.
Ripple surpassed $1, rising by 11%, while tokens like AVAX and TON saw gains of 5% and 4%, respectively. In contrast, meme coins Dogecoin and Shiba Inu faced losses of over 4%.
XLM’s rise comes amid growing interest in projects offering fast transactions and low fees, reinforcing its relevance in the evolving crypto ecosystem.
Key Takeaways
- Immediate Resistance: $0.2145, followed by $0.2278 and $0.2403.
- Support Levels: $0.1980 pivot point, $0.1847, and $0.1716.
- Momentum: RSI at 64 signals bullish strength but nears overbought territory.
Stellar’s trajectory remains bullish, with critical levels poised to determine its next move. Traders are advised to watch $0.2145 for further upside potential.
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The post Is Stellar the Next Ripple? Bullish Action as XLM Spikes 32% in A Day appeared first on Cryptonews.
This articles is written by : Fady Askharoun Samy Askharoun
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