As a seasoned researcher with years of experience navigating the dynamic world of cryptocurrencies, I must say that today’s surge in Stellar (XLM) is reminiscent of a rollercoaster ride – always unpredictable but undeniably thrilling!
On the hourly chart, it appears that XLM is cruising comfortably within its channel, with $0.4299 acting as a safety net below and $0.4607 serving as the speed bump ahead. Given that most of the ATR has been covered, I’d wager that any abrupt moves are unlikely to occur before the day’s end.
Looking at the bigger picture, the price action of XLM shows a familiar pattern – yet another false breakout of the resistance at $0.4530. If the daily bar closes near this level and without a long wick, we could be in for a price explosion, propelling us towards the $0.48 zone.
From a mid-term perspective, it’s too early to make any bold predictions about XLM’s trajectory. Even if the weekly candle closes bullishly, traders should brace themselves for a gradual ascent rather than a steep climb, as the required energy hasn’t yet been fully accumulated.
In conclusion, while Stellar is currently trading at $0.4448, it’s essential to remember that in the world of crypto, nothing can ever be taken for granted! So, let’s wait and see if this ‘Lumens’ light continues to shine brightly or if it will dim once again.
And as a final thought, I always say: “Investing in cryptocurrencies is like riding a wild bull – sometimes you get thrown off, but the ride is always worth it!
Prices for cryptocurrencies hold steady, with the majority continuing to display positive gains, based on CoinMarketCap data.
XLM/USD
Stellar (XLM) has gained a lot of value today, going up by 5.25%.
On an hourly basis, the cost of XLM hovers around the midpoint of its trading channel, with values oscillating between the supportive level of approximately $0.4299 and the resistant level of around $0.4607.
As most of the ATR has been passed, any sharp moves are unlikely to happen by the end of the day.
Looking at a broader time perspective, XLM’s rate has once more seemingly breached its resistance at $0.4530. If today’s bar ends close to this level without a significant wick (or tail), it could signal a strong surge in price, potentially leading to a test of the $0.48 region shortly.
Looking at things from a midterm perspective, it’s premature to predict significant price increases. Even if the weekly chart shows a bullish close, traders may not witness a dramatic uptrend because there hasn’t been sufficient momentum built up yet.
XLM is trading at $0.4448 at press time.
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2025-01-03 19:07