Ripple’s XRP Rival Stellar (XLM) Primed for Liftoff with Golden Cross and Double Bottom Fueling Surge
Main Idea
Market analyst Tom Tucker predicts a bullish outlook for Stellar (XLM), citing technical patterns and momentum that could drive its price toward $0.5183 or higher.
Key Points
1. Stellar (XLM) shows a strong bullish setup, including a double bottom at $0.2177, a golden cross in mid-July, and a falling wedge pattern.
2. Analyst Tom Tucker highlights a bull flag pattern forming after an 84% surge, suggesting further upside potential.
3. A liquidation heatmap indicates a price cluster at $0.42, which could attract momentum and push the price higher.
4. Stellar, the 11th largest cryptocurrency by market cap, is nearing the $0.50 level and tends to mirror XRP's price action.
5. XRP recently hit a new high of $3.65, raising speculation on whether XLM will follow with a similar explosive move.
Description
Thanks to a combination of fundamental developments, market sentiment, and technical indicators, a bullish picture continues to be painted in the Stellar (XLM) ecosystem.
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