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- 1 Stellar crypto price was at $0.120 registering a positive development of 2.40% in Intraday.
- 2 The daily chart shows breakout of the falling wedge pattern.
Stellar crypto price generated more gains on Tuesday and resumed its winning streak for the third consecutive day. The buyers are playing aggressive bullish bets which are clearly visible on the charts.
Recently, XLM crypto made a breakout of a falling wedge pattern and resumed its way on the higher side. The breakout of the falling wedge indicated the termination of a short term correction phase and initiation of a possible uptrend.
The breakout has dragged the sellers on the defensive mode. The buyers have regained control over the trend which may help the XLM crypto price conquer higher levels.
Currently, the price has completed a retest after the breakout and has formed a higher low pattern. The XLM crypto has initiated its journey towards north and has upside potential till the higher supply levels of $0.125 and $0.135. It might be a good opportunity for the short term traders and investors to enter a trend at a trend initiation.
Stellar Crypto Volume Analysis
Moreover, The price rise is supported by a massive rise in volume which indicates that the trend may continue on the higher side. The volume analysis shows that the crypto has received $316.11 Million volume in the last 24 hours which is 50% more than the previous day.
Currently, The volume to market capitalization ratio is 7.41% indicating mild volatility in the crypto. XLM has a circulating supply of 145.64 Million tokens against a total supply of 210 Million tokens.
Stellar Crypto Indicator Analysis
From a Technical perspective, the daily chart shows that the crypto has surpassed the 50 and 200-Day EMAs suggesting the termination of the correction phase. The key EMAs may act as a dynamic support and the crypto may resume its uptrend after a retracement.
Also, the RSI line has made a bullish crossover of the SMA line and is headed higher, suggesting the continuation of a positive trend.
Stellar Price Prediction February 2024
The positive view of our analysts estimates that the XLM crypto may attain a high of $0.13 on the higher side if it proceeds with momentum on the higher side. The short term traders and Investors would expect a 15 to 20% increase by month end.
However, the bearish perspective of our analysts suggests the possibility of a fake breakout if the price drops below $0.11 in the near term. It may invite more selling volumes and the crypto price may test $0.10 and $0.09 on the lower side.
Stellar Crypto Price Prediction 2024
The price forecast for the year 2024 is that the XLM token price could reach a high of $0.198, suggesting a potential gain of over 65.01% if the most positive conditions prevail. Moreover, the negative outlook of the analysts hopes for the crypto to attain $0.163.
Stellar Price Prediction 2025
By 2025, Stellar price may attain $0.285 on the higher side. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $0.208.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
