Will Stellar (XLM) continue its rally?

Ripple's (XRP) jaw-dropping rally has paved the way for many altcoins. $XRP , which has increased by nearly 100 in the last week, has provided money inflow to major altcoins with high market value.

#Stellar ($XLM ), one of the names that left its mark on the 2021 bull, attracted attention with its rise of up to 170 percent since November. XLM, which is shown among the best performances of the month, reached a market value of $ 7.395 billion.

AMBCrypto made striking comments in its analysis for XLM. According to AMBCrypto's analysis, Stellar (XLM) is gaining momentum with its technical appearance and market sentiment. The conditions required for XLM, which has increased by 25 percent in the last 24 hours, to continue its rise were mentioned.

The following statements were included in the analysis; “This sudden upward momentum (25 percent increase) broke the long-standing descending channel and ignited hopes for a potential uptrend.”

#XLM price had been stuck in a downtrend for a long time. In fact, XLM broke through the resistance level of the descending channel at $ 0.1236, accompanying XRP’s rally. The resistance break carried the XLM price to $ 0.25.

According to the analysis, the upper level in Bollinger Bands, which indicates a bullish outlook, expanded to $ 0.2125. It was emphasized that this level would act as a potential support.

While the price of XLM rose rapidly, its social volume experienced a sharp decline. The analysis interpreted the decline in social interest as follows;

“The rally may not be driven by individual investor enthusiasm.”

AMBCrypto stated that the rise in XLM was a result of institutional or whale transactions.

The $ 0.25 resistance is of critical importance for the popular altcoin. XLM could resume its uptrend if it sustains above $0.21 and clears the $0.25 resistance.