XLM’s 15% price surge explained – Is $0.60 its next target?
Main Idea
Stellar (XLM) experienced a 15% price surge, breaking out of a bullish pattern, with potential for further gains towards $0.60-$0.70 as market sentiment remains bullish.
Key Points
1. XLM surged 15.25% in 24 hours, reaching $0.4610, with traders and investors showing strong interest.
2. Technical analysis indicates a breakout from a bullish flag and pole pattern, suggesting a potential 30% rally to $0.60.
3. Over $2 million worth of XLM tokens left exchanges in 24 hours, signaling potential accumulation by investors.
4. Key liquidation levels are at $0.4297 and $0.4711, with $22.27 million in long positions and $3.46 million in short positions.
5. The Relative Strength Index (RSI) stands at 63, indicating bullish momentum but not yet overbought.
Description
After gaining 15%, the coin may now be poised for another potential 30% rally.
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