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Stellar’s price has soared 18% in the past 24 hours, with volume up 377% to $1.7 billion, and is trading at $0.426 as of 2:42 a.m. ET.
Stellar Price reversing bullish trend
The XLM price has been consolidating for months, trading below its 200-day moving average (MA) of $0.1675 for much of this year.
However, according to data from Geckoterminal, a strong rally began in November, with the price rising above the current support levels of the 50-day SMA ($0.3799) and 200-day SMA.
The recent decline has created a descending channel, a classic bullish continuation pattern. Notably, XLM has just broken out of the upper bound of this channel, supported by increased trading volume, indicating that the bullish trend is likely to continue. The next major resistance level is near the $0.55 level, as indicated by the arrow on the chart.
The relative strength index (RSI) is 59.16, indicating bullish momentum rather than overbought. XLM price has plenty of room to rise further before reaching the overbought zone (>70).
Additionally, the Moving Average Convergence Divergence (MACD) line (blue) is above the signal line (orange), providing a bullish signal suggesting that upward momentum is gaining momentum. The histogram has shifted into positive territory, further supporting the bullish reversal.
XLM/USD chart analysis source; Gecko Terminal
XLM price prediction
Based on the current chart structure and indicator readings, Stellar price looks poised for further upside.
A breakout from the descending channel predicts a possible move into the $0.50-$0.55 range, where significant resistance lies. The bullish case remains if Stellar price sustains above the $0.38 to $0.40 support zone.
In the longer term, if the broader crypto market remains supportive, a move above $0.55 could point towards higher levels around $0.60-$0.65.
However, if the $0.38 support level fails to hold, Stellar price may retest the 200-day SMA at $0.1675, which will act as an important support zone.
With XLM prices soaring, investors looking for new opportunities may consider a new meme coin ICO called Flockerz (FLOCK). According to 99Bitcoins, a popular crypto channel on YouTube with over 720,000 subscribers, $FLOCK has the potential to become the next 100x meme coin.
Buy Flockerz before the presale ends – 20 days left
Flockerz raised over $8.4 million in pre-sale as investors bought into a unique Vote-to-Earn (V2E) mechanism designed to help the community steer its future.
Simply put, token holders are paid in FLOCK to vote on major proposals.
With V2E, Flockerz is setting a new standard in decentralized governance, allowing the community to influence the direction of projects by voting directly through Flocktopia, a community-driven governance system.
Everyone at Flocktopia is always ready to lend a helping hand, no matter what you need.
Even just a little bit of support would be appreciated. 💙💙 pic.twitter.com/b6zuvBbf41
— Flockers (@FlockerzToken) December 15, 2024
At Flocktopia, decisions regarding the future of the project are made collaboratively by “The Flock”, a community of $FLOCK holders. Every member has a voice, making the platform a truly decentralized and inclusive environment.
In addition to V2E rewards, users can also earn passively through the platform’s staking mechanism, which provides an extremely high annual yield of 325%.
To participate in the presale, you can purchase $FLOCK on the official website for $0.0065823 per token using BNB, ETH, USDT, or your bank card. Purchase before pre-sale ends in 20 days.
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