Stellar's XLM Price Rises on Buying Momentum Could a ‘Golden Cross’ Follow?
The cryptocurrency market has been stagnant for 24 hours, while Stellar rose 3% today to $0.4538.
XLM has gained 35% in a week, with its four-hour chart completing a golden cross yesterday and other strong indications.
While XLM has gained 275% in the last year, this means further gains are likely.
With Donald Trump's inauguration two weeks away, XLM's solid fundamentals suggest optimistic long-term price projections.
Stellar's XLM Price Rises as Buying Momentum Grows—A ‘Golden Cross’? Most importantly, XLM's 30-period average (orange) crossed over the 200-period average (blue), establishing a ‘golden cross’ that normally signals rallies.
XLM's relative strength index (purple) rose from 30 a few days ago to above 70 yesterday, supporting this optimism.
XLM, the 18th-largest cryptocurrency by capitalization, had its Chaikin Money Flow (CMF) turn positive yesterday, indicating that buyers are returning.
The CMF oscillator has bottomed out on XLM's one-day chart, which is noteworthy.
One-day chart of XLM, includes CMF (green). From TradingView Thus, after a peaceful time of consolidating post-election gains, XLM is set to recover.
Analysts said the coin is “looking very bullish on the charts“.
When paired with Stellar's good fundamentals, these signs should predict sustained XLM rise in the coming months.
Stellar reported nine million unique addresses on its network in Q3 2024, sending $3 billion in transactions.
Stellar's growth rate has increased from $2 billion in Q2, and it might expand further in a positive climate.
In 2025, a new Trump government may pass pro-crypto laws, which might boost Stellar adoption.
XLM might hit $0.50 by February's end and $0.60 by Q2 this year.
There are many new coins poised to capitalize on the optimistic market for traders unconvinced by XLM.
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