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Stellar Lumens(XLM) has regained its momentum and surged impressively by 10.40% today. Stellar Lumens has experienced a significant surge, surpassing the $0.0900 resistance level. If it manages to clear the $0.1000 resistance zone, XLM could gain bullish momentum.
After a period of consolidation above the $0.0900 level, Stellar Lumens has recently experienced a significant surge in value against the US Dollar. The XLM/USD pair has successfully broken through the $0.090 resistance zone, signalling a shift towards a more optimistic market outlook.
After a prolonged period of hovering around the $0.0860 and $0.0900 resistance levels, the price of the asset finally surged above them. The coin price has surged past the resistance level of $0.0900, indicating a consistent upward trend. The bulls have propelled the price even higher, shattering the $0.0960 barrier level. Furthermore, the price has surpassed and retested the significant resistance of $0.1000.
At present, the bears are exhibiting a significant amount of activity near the resistance level of $0.1000, which has caused the price to reach a high of $0.0998. However, the price has since dropped below the $0.0960-$0.0950 level and formed a low near $0.09390. Despite this, the price is still trading above the $0.0940 level and the 21-hour simple moving average.
XLM is currently facing a significant resistance level at $0.0970, with the next significant obstacle at the $0.1000 level. However, if the price manages to surpass this level, it could potentially reach the $0.1060 level, leading to further gains and propelling the price towards the $0.1170 level or even $0.1300 in the upcoming days.
If XLM fails to surpass the $0.1000 barrier, it will face initial support near the $0.0930 level. The next significant support level is at $0.0900. In the short term, further losses could potentially drive the price towards the $0.0850 level. If the decline continues, it may even retest $0.0830 in the coming days.
According to Price Analysis, The market capitalization of this XLM is estimated to be $2,525,244,892. The coin's 24-hour trading volume is around $227,291,708.
KEY LEVELS :
RESISTANCE LEVEL : $0.1000-$0.1060
SUPPORT LEVEL : $0.0900-$0.0850
"After experiencing a significant increase of 10.40, the question arises as to whether the XLM rally will be able to maintain its momentum and surpass the $0.1000 mark, or if the bears will take control and drive the price down to $0.0900. We would appreciate it if you could share your thoughts on this matter in the comment section below."
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