bullish

Rally

Resistance

Stellar

<ul class="wp-block-list">
  
 <li>Two bullish patterns suggest XLM might reach $0.90 soon.</li>   
 <li>Investor sentiment shows mixed signals with increased buying volume and falling long/short ratios.</li>   
 <li>Resistance at $0.56 and MA cross indicators will determine XLM’s potential upward trend.</li> 
</ul>   
<p>Stellar (XLM) recently saw a strong price surge last month but recently lost momentum. Bears regained control, causing a slight 3% drop. Despite this, two bullish patterns are forming. A successful breakout could push XLM toward $0.90 soon.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/johnmorganFL/status/1865776583627227610?t=cQhMrZ1XvA76jVFBtdS6WA&amp;s=19 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-two-bullish-patterns-spark-hope">Two Bullish Patterns Spark Hope</h2>   
<p><a href="https://coinmarketcap.com/currencies/stellar/">XLM</a> rose over 300% in the last 30 days, outperforming many top cryptocurrencies. But the past week brought a 3% decline. At press time, Stellar trades at $0.4879. Social metrics have weakened. Social Dominance and Weighted Sentiment are both falling, showing growing bearish sentiment. Trading volume also dropped, which could indicate a potential trend reversal.</p>   
<p>A popular crypto analyst on X recently highlighted two <a href="https://cryptonewsland.com/stellar-xlm-targets-5-breakout/">bullish signals</a>. The first is a symmetrical triangle pattern that appeared in November. XLM is consolidating inside this pattern and nearing its resistance. The second signal is a falling wedge on the Relative Strength Index (RSI) chart. The RSI has broken above this wedge, signaling strength. If XLM follows this trend and breaks through resistance, a move toward $0.90 could follow.</p>   
<h2 class="wp-block-heading" id="h-investor-data-shows-mixed-signals">Investor Data Shows Mixed Signals</h2>   
<p><a href="https://hyblockcapital.com/">Hyblock Capital</a> data reveals that investors have been buying the recent price dip. This has caused an increase in buying volume, reflecting investor optimism. However, some signals suggest caution. The long/short ratio has fallen sharply. </p>   
<p>This shows more short positions in the market, indicating lower investor confidence. The MA Cross indicators suggest a bearish crossover. The 21-day MA and 9-day MA are converging, increasing the risk of further declines. If this trend continues, the price of Stellar could find support at $0.43. </p>   
<p>A bullish reversal depends on XLM breaking the $0.56 resistance. These patterns and investor activity suggest XLM could soon see positive momentum. The journey to $0.90 depends on overcoming key resistance levels and maintaining upward movement.</p>    
<p>The post <a href="https://cryptonewsland.com/bullish-signals-hint-at-a-rally/">Stellar on the Rise: Two Bullish Signals Hint at a Rally Toward $0.90</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Stellar on the Rise: Two Bullish Signals Hint at a Rally Toward $0.90

Table of Contents

Crypto News Land

Other articles published on Dec 10, 2024

Can Shiba Inu Bounce Back After 27% Price Dip?

Raydium Surpasses Uniswap in Trading Volumes for Second Month

Bitcoin Price Prediction Today: BTC Price To Hit $94k?

Bitcoin Enthusiast Proposes $1M Bet for 5% Amazon Stake

The Crypto Advent: 5 Tokens to Watch for Explosive Gains This December!

Ethereum Bull Run: High Funding Rates Indicate Increased Optimism

Join our free newsletter for daily crypto updates!