Will Stellar ($XLM ), which has recently gained over 20 percent in value, be able to continue its rise?

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

Stellar ($XLM ), one of the names that left its mark on the bull of 2021, attracted attention with its rise of up to 170 percent since mid-November. XLM, which is among the best performers of the month, reached $ 7.395 billion in market information.

AMBCrypto held talks in the analysis prepared for XLM.

Stellar (XLM) price analysis According to AMBCrypto's analysis, Stellar (XLM) is gaining momentum with its technical appearance and market development. The points that need to be taken into consideration for XLM, which has increased by 25 percent in the last 24 hours, to continue its rise were mentioned.

The analysis included the following statements;

“This sudden upward momentum (25 percent increase), broke the long-standing descending channel and ignited hopes for a potential rise.” Since the XLM price has been stuck in a downward trend for a long time. In fact, XLM broke through the resistance level of the descending channel at $ 0.1236 according to XRP's rally. The resistance break carried the XLM price by 0.25.

According to the analysis, the upper level in the Bollinger Bands, which indicates the appearance of the outlook, expanded to a width of 0.2125. It was emphasized that the level in question will serve as a potential support.

While the price of XLM increased rapidly, there was a sharp decrease in social volume. The analysis commented on the decrease in social interest as follows;

“There can be no individual investor enthusiasm behind the rally.” AMBCrypto stated that the rise in XLM was a result of institutional or whale transactions.

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