Stellar Market Update: XLM/USD lift-off to the moon begins as $0.20 beckons
- Stellar impeccable rise in July brushes shoulders with $0.10 as it leads altcoins in recovery.
- XLM/USD bulls remain relentless in the battle for gains above $0.10 and $0.20 respectively.
Stellar is towering above the cryptocurrency landscape with consistent gains. It is among the best performing altcoins in the market this week. XLM/USD has made significant progress from March 12 crash across the market.
After plummeting and exploring levels under $0.03, XLM embarked on a journey of breaking barriers. There have been hurdles along the way but Stellar’s bulls have been keen on holding to the gains accrued.
In July alone, XLM has grown in value by more than 38%. The price has tested the critical level at $0.10. The last time this crypto was at this price level was in August 2019. A minor retreat has sent the bulls to seek balance above $0.09 support.
XLM/USD is trading at $0.0970 at the time of writing. The upward price action is reinforced by the RSI currently holding the ground in the positive region. Similar support is coming from the MACD as it scales the levels higher above the midline.
In other words, a $0.10 prediction for Stellar is quite conservative while $0.20 seems more probable. Based on the technical picture, the bulls are unlikely to rest until Stellar makes it above $0.16 (May 2019 high) while focusing on $0.20.
XLM/USD daily chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
