bullish

Rally

Stellar

<ul class="wp-block-list">
 <li>Stellar Lumens surges 21%, entering the top 20 cryptocurrencies with a market cap of $7.16 billion.</li>  
 <li>A golden cross and XRP’s rally boost XLM, signaling strong bullish momentum.</li>  
 <li>Rising Open Interest suggests growing investor confidence, but declining volume raises concerns about sustainability.</li> 
</ul>  
<p>As of writing, <a href="https://cryptonewsland.com/xlm-returns-above-double-bottom-pattern/" rel="noopener noreferrer nofollow">Stellar Lumens</a> had surged by 25%, pushing the price to $0.2393. The market cap now exceeds $7.16 billion, sending XLM into the top 20 cryptocurrencies. This rally has extended Stellar’s weekly gains to more than 118%. With the price hitting multi-year highs, many are asking whether this surge will continue.</p>  
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<h2 class="wp-block-heading" id="h-golden-cross-sparks-bullish-momentum-for-xlm">Golden Cross Sparks Bullish Momentum for XLM</h2>  
<p><a href="https://cryptonewsland.com/stellar-lumens-xlm-eyes-new-highs-in-2024-beyond-0-488/" rel="noopener noreferrer nofollow">XLM’s recent price surge</a> follows the formation of a golden cross on the chart. A golden cross occurs when the 50-day moving average crosses above the 200-day moving average. This is typically seen as a strong bullish signal. For XLM, this pattern happened just as the price broke through key resistance levels.</p>  
<p>The price reached $0.243, a level not seen since March 2022. Earlier this year, a similar <a href="https://corporatefinanceinstitute.com/resources/career-map/sell-side/capital-markets/golden-cross/" rel="noopener noreferrer nofollow">golden cross</a> was followed by a quick reversal. However, this time, the bullish momentum appears stronger. XRP’s recent surge past $1 has also helped fuel XLM’s rise.</p>  
<h2 class="wp-block-heading" id="h-rising-open-interest-and-potential-hurdles-for-xlm">Rising Open Interest and Potential Hurdles for XLM</h2>  
<p>XLM’s on-chain data show <a href="https://www.investopedia.com/terms/m/marketsentiment.asp" rel="noopener noreferrer nofollow">strong bullish sentiment</a>. The Open Interest (OI) for XLM has surged 46% in 24 hours, reaching $144 million. This rise indicates increased market confidence and new positions being established. If this momentum continues, XLM could push past $0.40.</p>  
<p>However, a drop in daily trading volumes could signal caution. Trading volume fell by 30%, suggesting the rally might be losing steam. This slowdown could indicate waning interest from traders.</p>  
<p>For XLM to maintain upward momentum, resistance at $0.25 and $0.27 needs to be broken. If that happens, the price could rise further, potentially reaching $0.44 and even $0.80. The key will be whether the bullish momentum holds in the coming days.</p>   
<p>The post <a href="https://cryptonewsland.com/stellar-lumens-25-surge-enters-top-20/" rel="noopener noreferrer nofollow">Stellar Lumens’ 25% Surge Pushes XLM into Top 20 – Is this Rally Sustainable?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Stellar Lumens’ 25% Surge Pushes XLM into Top 20 – Is this Rally Sustainable?

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