Significantly, Stellar’s XLM has been capturing headlines with its impressive increase, confidently trading beyond the $0.12 mark. This surge sets Stellar apart from many other top-performing cryptocurrencies and raises eyebrows in the investment community.
Moreover, Santiment, a market analytics firm, points to an even brighter future for XLM. They hint at the possibility of a “larger breakout,” making Stellar a hot topic among market analysts and investors.
Stellar’s Mysterious Announcement Adds Fuel
Earlier this month, Stellar ramped up excitement by hinting at a “massive reveal” scheduled for September 12—the cryptic social media message—”Gear up for a change that has us all thrilled. Stay on your toes”—has left many intrigued and speculative.
Besides the teasing announcement, Santiment highlights that XLM is an asset consistently shorted by the crowd. Therefore, ongoing liquidations could push the asset’s price upward, offering a growth catalyst. This move adds another layer to the market’s growing fascination with Stellar and the upcoming announcement.
XLM/USD Market Analysis
Bullish momentum has prevailed over the previous 24 hours, with Stellar’s (XLM) price jumping from an intraday low of $0.116 to a 24-hour high of $0.126 before encountering resistance. If bulls manage to push prices over $0.126, they may have their sights set on the next resistance level at $0.135.
XLM/USD 1-day price chart
However, if the resistance around $0.126 proves firm, retreating to the $0.120 support level is likely before any more positive movement.
Consequently, XLM’s market capitalization and 24-hour trading volume increased by 5.89% and 112.92%, respectively, to $3,348,891,902 and $168,025,766. This market capitalization and trading volume growth suggests increased interest and activity in XLM, which might add to the potential upside gains.
All eyes are on Stellar’s upcoming announcement and market performance. With its current trajectory and the market’s palpable anticipation, XLM might just be gearing up for a game-changing moment.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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