Stellar (XLM), often seen as a rival to XRP, may be poised for a price rebound, according to market insights. A well-known crypto analyst pointed out a possible buy signal on the daily chart of XLM, but there is a catch.
The TD Sequential, a popular technical indicator used to identify potential trend reversals or continuations in asset prices, is what is being used to identify the buy signal. It looks at a series of candlesticks to figure out if the market is overbought or oversold, and it gives traders a heads-up on when to make a move. Right now, it looks like XLM could be on the rise as long as it stays supported at $0.33.
Related
Sun, 12/22/2024 - 14:55 XRP Price May Fall to $1 as in 2018, Bollinger Bands Signal
Gamza Khanzadaev
HOT Stories Bitcoin Fails to Outperform Cocoa in 2024 XRP Hits Strong Support Level, Is $93,000 Next for Bitcoin (BTC)? Dogecoin (DOGE) Dream of $1 Is Over? Shiba Inu (SHIB) Price Prediction 2025 MicroStrategy's Saylor Pitches $600 Million Bitcoin Buy to Jeff Bezos
If we want to see a rebound in XLM, the market needs to make sure that the $0.33 support level holds. That level is like a psychological and technical floor, and if it holds, it could lead to more buying, which is good for the market. But if it breaks down, it could signal a bearish trend, which would make it harder for XLM to bounce back.
The TD Sequential presents a buy signal on the #Stellar $XLM daily chart, anticipating a price rebound if the $0.33 support level holds! pic.twitter.com/cVjNwJd4O8
— Ali (@ali_charts) December 23, 2024In short, Stellar's price movement is a pretty exciting opportunity for traders, but it all comes down to the key $0.33 level. The next few days will be important in determining whether XLM can take advantage of the current bullish trend or whether it will continue to fall.
XLM and XRP's story
Stellar has always been a competitor to XRP, as both cryptocurrencies focus on cross-border payments and financial inclusion. They both have similar roots, with Stellar being cofounded by Jed McCaleb, one of the founders of Ripple.
Related
Sun, 12/22/2024 - 15:03 Ripple Makes Mysterious 90 Million XRP Transfer: What's Going On?
Tomiwabold Olajide
While XRP is aimed at financial institutions, XLM is more about bringing affordable financial services to people who do not have access to them. But even with these differences, they are often competing for a share of the blockchain payments ecosystem.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
