The price of Stellar has increased by 3% today, with XLM rising to $0.4538 while the cryptocurrency market as a whole remains flat over the past 24 hours.
XLM also surged 35% in a week, with this coin's four-hour chart forming a golden cross yesterday, along with providing other bullish indicators.
This indicates that there will be further growth as XLM has increased by up to 275% over the past year.
And with Donald Trump's inauguration just two weeks away, the solid foundation of XLM gives it some very optimistic long-term price predictions.
The price of Stellar's XLM skyrockets as buying momentum increases – Could the next 'Golden Cross' occur?
The most notable thing is that the 30-period moving average (orange) of XLM has crossed above the 200-period moving average (blue), forming a 'golden cross' that often signals an impending recovery.
Supporting this positivity is the relative strength index of XLM (purple), which has risen from 30 just a few days ago to over 70 yesterday.
We also saw the Chaikin Money Flow (CMF) of XLM turn positive yesterday, which means buyers have returned to this altcoin, now the 18th largest coin in the market by market cap.
And the interesting thing about CMF is that if we zoom out and check the one-day chart of XLM, this oscillator has actually reached a bottom.
In other words, after a quiet period where XLM primarily consolidated gains after the election, this coin is ready for a recovery.
In fact, analysts are starting to pay attention to this token, with some asserting that it 'looks very bullish on the chart.'
When combined with Stellar's solid fundamentals, these signals mean that XLM will have steady growth in the coming months.
According to data from Stellar, there are currently a total of nine million unique addresses on this company's network, which have sent remittances worth $3 billion in Q3 2024.
The latter figure has increased from $2 billion in Q2, demonstrating the growth rate of Stellar and potential for growth in a more optimistic environment.
Such an environment is likely to develop throughout 2025, with the new Trump administration potentially enacting cryptocurrency-friendly laws, which could boost the adoption of Stellar.
In such a context, XLM could reach $0.50 by the end of February and $0.60 by Q2 of this year.
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