• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
XLM
Sensei Inu Logo

XLM Surges With 10% Rally – Can The Recovery Hold Its Ground?

Christian Encila by Christian Encila
3 weeks ago
in Cryptocurrency Market News
Reading Time: 3 mins read

Stellar (XLM) has experienced a robust resurgence, bouncing off a crucial support level at $0.11. Chart indicators are pointing towards a promising outlook for bullish investors, marking a significant shift in momentum since mid-August. This second rebound from the same support level underscores the formidable strength exhibited by bulls, hinting at the potential for further gains.

A price analysis notes that the $0.11 support level has emerged as a steadfast defense line for XLM enthusiasts. Recent price action has illustrated that bears would need to work diligently to flip this level in their favor, extending the bearish momentum. 

However, the bulls have displayed unwavering determination, as evidenced by the latest retest of the support on Sept. 4, which triggered a notable price pump.

Related Reading: XRP Bottom Support Holds Strong: A Healthy Sign For The Crypto’s Price?

As of the latest data, XLM is trading at $0.124 according to CoinGecko, reflecting a 2% rally over the past 24 hours and an impressive 10% surge in the last seven days. These gains are indicative of growing optimism among XLM investors.

XLM Chart Indicators Favor Bulls

The on-chain indicators are aligning with the bullish sentiment surrounding XLM. The Relative Strength Index (RSI) hovers around the neutral 50 mark, suggesting a healthy demand for XLM.

Additionally, the Chaikin Money Flow (CMF) stands at +0.10, indicating an influx of capital into XLM. This influx is typically a bullish sign, pointing towards the growing confidence among investors in the cryptocurrency.

Despite the resurging optimism, XLM faces a battleground in the long/short ratio on exchanges. The tight margins indicate that sellers are actively trying to thwart the bullish rally.

While long positions are inching closer to the critical 50% flip point of the long/short ratio, sellers currently maintain the upper hand, exerting pressure on XLM’s upward trajectory.

XLM market cap currently at $3.4 billion. Chart: TradingView.com

What Lies Ahead For XLM?

With the $0.11 support level proving to be a formidable stronghold for bulls and chart indicators hinting at further gains, XLM enthusiasts are eyeing a target range of $0.17 to $0.19, aiming to revisit the highs last seen in July.

The crypto market remains dynamic and volatile, so investors should remain vigilant and stay tuned for developments that could impact XLM’s price trajectory.

Related Reading: LINK Price Surge Ahead? Chainlink Sharks Bet Big On Accumulation

XLM has staged an impressive rebound, bolstered by strong support and positive chart indicators. While challenges persist in the form of bearish resistance in the long/short ratio, the bullish momentum remains intact, with investors setting their sights on recapturing the July highs. The cryptocurrency market continues to evolve, and XLM’s resurgence is a testament to its resilience in the face of market fluctuations.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Stellar

Tags: altcoinsbtcusdethusdPrice actionstellarXLM Price
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

Polygon

Polygon Price Speculation: Can MATIC Defend The $0.5 Threshold?

26 mins ago
Bitcoin monthly close September

Bitcoin Price Trend At Stake: How September’s Close Could Change Everything

1 hour ago
Solana

Solana Bulls Struggle To Break $21 Barrier – What Lies Ahead?

4 hours ago
AirBit

Mastermind Behind Massive Crypto Ponzi Scheme AirBit Club Receives 12-Year Prison Sentence

12 hours ago
Ethereum open interest

Ethereum Open Interest Barrels Past $5.2 Billion, Is It Time To Buy?

15 hours ago
Hot New Cryptocurrency Bitcoin BSC Enters Final Hours Of Public Token Presale

Hot New Cryptocurrency Bitcoin BSC Enters Final Hours Of Public Token Presale

21 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Solana Defies Price Fears, Bitcoin Spark Leads ICO...

    2 hours ago
  • Mercante Technologies to Launch AI-Powered Customer Support...

    3 hours ago
  • Expert Reviews Of IBKR vs eToro And The Promising Broker...

    8 hours ago
  • Meta Force by Lado Okhotnikov Launches SWAP: Secure and...

    22 hours ago
  • Solana Remains Stable, Bitcoin Cash, and Borroe.Finance...

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.