Stellar (XLM) has been steadily gaining momentum in recent days, currently trading at $0.52 — a 127% increase over the past week.
Stellar (XLM) has been making impressive gains in recent days, currently trading at $0.52, up 127% in the past week.
The token’s strong uptrend is supported by rising buying pressure, evident in XLM’s increasing open interest, which reached an all-time high of $291 million on Saturday.
Stellar’s uptrend is further confirmed by readings from its Average Directional Index (ADX), which indicate an extremely strong uptrend. As of writing, XLM’s ADX is at 68.93.
The ADX measures the strength of a market trend on a scale of 0 to 100, with readings above 68 indicating exceptionally strong trends. This high ADX value suggests that XLM’s current uptrend is likely to continue.
XLM’s price is now encountering resistance at $0.58. A decisive break above this level could lead to a quick move up to $0.71. Sustained buying momentum at this zone may set XLM up for a potential rally toward its all-time high of $0.91.
On the other hand, if buyers fail to sustain the momentum and XLM’s price falls below $0.47, this bullish outlook will be invalidated.
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