The XLM/USDT pair has seen a remarkable surge over the last 24 hours, climbing by 40.25%, reaching a price of $0.6149. This impressive increase follows a period of substantial gains, with XLM appreciating by over 537% in the last 30 days. The recent upward momentum reflects strong buying interest, as indicated by the 51.14% increase in the past 24 hours.
Currently, XLM is facing some consolidation, which may lead to a brief correction before potentially reaching higher levels. Traders are keeping an eye on key resistance points as the price approaches $0.65. However, the overall market sentiment remains bullish, with XLM showing a continued upward trend compared to its performance earlier this month.
The recent rally is part of a broader crypto market rebound, with Stellar (XLM) benefiting from increased investor confidence. The coin is now trading significantly higher than it was just a month ago, continuing to outperform many other cryptocurrencies.
For the next few hours, market participants should watch for support around $0.60 and the potential for further price action towards $0.65 and beyond. As with all cryptocurrencies, volatility remains a key factor in short-term price movements.