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The Stellar price surged 50% in the last 24 hours to trade at $1.4026 as of 08:50 p.m. EST on trading volume that skyrocketed 189% to $6.3 billion.
Stellar Price Indicators Show A Sustained Bullish Rally
Since mid-November, the Stellar price has been on a sustained bullish rally, as it has been trading within the rising channel pattern. The $0.23 support within the channel allowed the price of Stellar to soar through a parabolic rise, signaling a sustained bullish trend, according to data from GeckoTerminal.
The sustained surge has driven the price of Stellar to trade well above both the 50-day and 200-day Simple Moving Averages (SMAs), which could also indicate a stronger bullish trend.
RSI is in the extreme overbought zone, currently at 88. While this suggests strong buying pressure, it also signals a potential risk of a short-term pullback or consolidation as prices may cool off after such a sharp rally. Overbought conditions often occur in strong trends but are not necessarily a sign of immediate reversal.
Meanwhile, the Moving Average Convergence Divergence (MACD) also supports the bullish rally, as the blue MACD line crosses over the orange signal line, which represents a bullish crossover.
If the current rally continues, the price of Stellar could surge to the next possible high at $0.45 or the psychological resistance level at $0.50.
Conversely, if the bears take control of the XLM price due to the overbought RSI, the Stellar price could plunge to the next 50-day SMA, acting as the next support zone at $0.2233.
Meanwhile, investors are rushing to buy the newly launched meme coin Catslap (SLAP), which exploded more than 2,000% on debut after its listing less than 48 hours ago.
Catslap Token has soared 51% in the past 24 hours to a new all-time high (ATH) of $0.003023 even as cat token titans POPCAT, MOG, and MEW struggle and the cat-themed crypto sector overall falls almost 3%,
According to ClayBro, a prominent crypto analyst with over 131K subscribers, Catslap could be the next meme coin to surge 50X.
Catslap Meme Coin – The Best Crypto To Buy Now?
Catslap has emerged as a standout project, surging more than 2,150% since its launch. This token, introduced on the Ethereum network, already boasts a market cap of $27.2 million and locked liquidity of $1.9 million.
Catslap combines addictive gameplay with crypto innovation through its interactive “Slapometer” feature.
Catslap’s clicker-gamified slapper fun is taking crypto by storm and its Slapometer has gone into overdrive with more than 2.1 million slaps already recorded worldwide.
New $SLAP ATH & Gary Gensler is stepping down. Send it to the moon 😻 pic.twitter.com/PzaPD8fdn7
— CatSlap (@CatSlapToken) November 21, 2024
Its marketing strategy is impressive, with a surge in followers and engagement on its social media platforms, hinting at a strong community-building effort. Catslap appears well-positioned to follow the success of cat-themed token rivals like POPCAT, MEW, and MOG.
Its partnership with Best Wallet, a fast-growing crypto wallet, connects it to over 60,000 users, boosting visibility and momentum.
Catslap’s staking feature offers a stellar 40% return, and its interactive, ‘memeable’ gameplay adds to its appeal.
We be cooking. Staking now live, all website buys will be staked for 7 days at 40% APY. Early unlock by burning 🔥🔥 pic.twitter.com/ZIUK9pd3sZ
— CatSlap (@CatSlapToken) November 21, 2024
Catslap has allocated 10% of its token supply to community rewards, which may be an indication that a play-to-earn opportunity is coming to Catslap Token.
That could be what is behind the project’s early alert of a special announcement that is to be made in about 11 days.
You can purchase Catslap token from its official website here.
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