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The Stellar price prediction shows that XLM couldn’t break above the 21-day moving average after touching the daily high at $0.100.
Stellar Prediction Statistics Data:
- Stellar price now – $0.098
- Stellar market cap – $2.8 billion
- Stellar circulating supply – 29.4 billion
- Stellar total supply – 50 billion
- Stellar Coinmarketcap ranking – #27
It’s often recommended to get involved in crypto projects as early as possible to maximize potential gains. For instance, the Stellar (XLM) has experienced significant price movement over the years. Since reaching its all-time low of $0.001227 on November 18, 2014, it has surged by an impressive 7,910.9%. While the token is currently far from its all-time high of $0.9381, recorded on January 4, 2018, those who invested early have still seen substantial returns.
XLM/USD Market
Key Levels:
Resistance levels: $0.116, $0.121, $0.126
Support levels: $0.080, $0.075, $0.070
XLM/USD has recently shown significant technical developments, breaking out from a falling wedge pattern on the daily timeframe and continuing its upward movement within a large ascending channel on the weekly chart. This breakout is a continuation of previous bullish behavior, but the cryptocurrency now faces critical resistance levels that will determine its next direction.
Stellar Price Prediction: XLM Price May Be Ready for Higher Levels
On the daily chart, Stellar encountered a downtrend line resistance after a brief price increase. This resistance, which has been in place since March 2024, has caused multiple rejections and is proving to be a significant barrier to further upward movement. However, the price may need to break through this resistance to begin its bullish momentum. Therefore, any bullish movement above the upper boundary of the channel is likely to touch the resistance level of $0.110.
Nevertheless, the buyers may need to increase the buying pressure which could lead the market price to the crucial resistance levels at $0.116, $0.121, and $0.126. Meanwhile, if the coin drops below the 9-day moving average, the XLM price could reach the critical supports at $0.080, $0.075, and $0.070 while the 9-day MA moves to cross above the 21-day MA.
XLM/BTC Moves Sideways
Against Bitcoin, the Stellar is crossing above the 9-day moving average with a bullish candle heading toward the upper boundary of the channel. Looking forward, the bulls are likely to push the current market price to the nearest resistance level of 180 SAT. In other words, any bearish cross below the 21-day MA could hit the nearest support at 150 before heading to the critical support level of 140 SAT and below.
Nonetheless, any form of a rebound from the current level at 167 SAT could push the coin to the resistance level of 195 SAT and above. But buyers may need to gather enough momentum to push the market price to the north. For now, XLM/BTC is moving sideways and may begin to rise once the technical indicator turns upward.
However, @cryptojack, with over 340k followers on X (formerly Twitter), pointed out that the descending triangle formation on $XLM has broken to the upside, causing #Stellar to surge. The first resistance level is at $0.11.
The descending triangle formation on $XLM was broken to the upside and #Stellar is pumping! The first resistance is at $0.11. pic.twitter.com/sM5kFGOXZ6
— CryptoJack (@cryptojack) July 31, 2024
Alternatives to Stellar
At the time of writing, the Stellar (XLM) price is moving marginally at its current price of $0.098 with a slight bullish movement. Nevertheless, if the market price slides below the 9-day moving average, the Stellar price could face the lower boundary of the channel, and getting to this barrier, traders could see a serious decline. Meanwhile, the PlayDoge token, linked to a dog-themed play-to-earn (P2E) game, has shown significant market momentum, reaching a $6 million market cap within an hour. The project features a mobile game where players earn tokens by engaging with a Tamagotchi-style virtual pet, combining popular meme culture with interactive gameplay.
PLAYDOGE REACHES $6 MILLION
Investing in the PlayDoge token presents a unique opportunity to capitalize on the growing trend of dog-themed cryptocurrencies, which have consistently shown strong performance in the market. With its innovative play-to-earn model, well-crafted mobile game, and a solid foundation that includes a detailed roadmap and robust tokenomics, PlayDoge is positioned for significant growth.
Related News
- Stellar Price Projection: XLM’s Path Forward Isn’t Looking So Bright
- What You’d Have Now If You’d Invested in Doge: Why PlayDoge Might Be Your Next Big Bet – $6M Raised in ICO
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