Altcoins News
By Maheen Hernandez
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Stellar (XLM) has recently been in a phase of consolidation, forming a bullish flag pattern on its daily chart.
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XLM has faced challenges breaking above the $0.40 resistance, a level that has consistently held back price action.
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Despite price volatility, XLM’s on-chain data tells a more optimistic story. The cryptocurrency has experienced steady growth in network accounts and Total Value Locked (TVL)…
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One of the key metrics that show investor confidence is the Long-Short Ratio, which stands at 2.31.
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Additionally, the Exponential Moving Average (EMA) 200, which tracks long-term price trends, is currently positioned below the price at around $0.2428.
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At present, the Relative Strength Index (RSI) for XLM sits at 44.93, which is somewhat neutral. However, the 4-hour RSI has risen to 53.
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Despite the overall market’s bearish outlook, XLM’s ability to consolidate at these levels while seeing growth in its network activity and investor sentiment suggests that the…
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However, if the breakout does not materialize, XLM may continue to consolidate within the $0.28-$0.35 range.
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