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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Stellar (XLM) Soars By 17% In A Single Week – Can Bulls Maintain Push To $1?

Semilore Faleti
Semilore Faleti
1 year ago
3 mins read
Stellar

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As the general crypto market experiences a slight gain in total market cap, Stellar (XLM) stands out with a substantial amount of price increase over the last week. According to data from CoinMarketCap, the XRP competitor is up by 17.61%, outperforming every other top 100 cryptocurrency in the past seven days. 

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Stellar Tough Spot: Will XLM Prices See A Dip Amid Mid-Range Struggles?

1 year ago

XLM To Reach $1?

With XLM currently hovering around the $0.13 price zone, there are speculations on the next movement. Interestingly, a crypto analyst with the name EGRAG CRYPTO on X (formerly Twitter) predicts that XLM could rise to $1 if certain conditions are met. 

According to the analyst’s post on September 8, this bullish prediction is formed on a potential crossover between two technical indicators, namely the 200-day Moving  Average (MA)and the 21-day Exponential Moving Average (EMA).

#XLM Heading for $1:

When the Bullish Cross occurs on the weekly time frame with the 21 EMA (Exponential Moving Average) and the 200 MA (Moving Average), I'm anticipating a potential surge of approximately 500% 📈.

The chart below is showing promising signs that the next… pic.twitter.com/33TrI2znLb

— EGRAG CRYPTO (@egragcrypto) September 8, 2023

To explain, the MA indicator reflects the average price data over a specific period of time, e.g., 200 days. It is constantly updated and can be used to identify trade areas and recognize market trends.

On the other hand, The EMA performs a similar function but with a focus on more recent price points. Due to its method of calculation, the EMA reacts to price changes faster than the MA. 

Based on EGRAG CRYPTO’s prediction, if there is an upward crossover of the 21 EMA and 200 MA on XLM’s weekly chart, there is a possibility the token could experience a 500% price surge in the coming months, surpassing the dollar mark to trade at $1.10. 

This prediction is mainly based on historical price data, as XLM witnessed a similar massive price gain when this crossover occurred between 2020 and 2021. 

However, it is worth stating that all predictions are speculations without guarantees and should not be relied on as investment advice. 

Related Reading

Stellar

Stellar Breaks Free: Unleashes New Open-Source Disbursement Platform

1 year ago

Another Partnership For Stellar?

In other news, the Stellar community appears to be expecting a massive positive update in the next few days. On September 2, Stellar Development Foundation shared with its crypto community that “Something cool is dropping in 10 days”. 

Something cool is dropping in 10 days.

Get ready to gear up for a change that's got us all excited. Stay curious 😎 pic.twitter.com/CgNzfzwqmc

— Stellar (@StellarOrg) September 2, 2023

This announcement was well received, with the XLM token rising by 10% in the next 24 hours. Interestingly, some enthusiasts predict Stellar could announce a new partnership in the coming week.

The blockchain network has already collaborated with companies such as American remittance firm MoneyGram and Circle, the company behind the USDC stablecoin. In fact, Stellar announced a minority investment in MoneyGram earlier in August. 

For now, it remains unknown what this new development could be. However, there is the possibility it could elicit some effect on XLM’s price trajectory.

At the time of writing, XLM is trading at $0.132, having gone up by $0.132 in the last day. In tandem, the token’s daily trading volume has gained by 21.33% and is valued at $119.14 million.

Stellar

XLM trading at $0.1308 on the hourly chart | Source: XLMUSDT chart on Tradingview.com
Featured image from Stellar, chart from Tradingview.
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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