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Stellar (XLM) Skyrockets 16% in Epic Price Rebound
In a stunning turn of events, the cryptocurrency market has witnessed a massive price surge by Stellar (XLM), with the digital asset skyrocketing an astonishing 16% in a single day. This sudden and unexpected increase is leaving many investors and analysts alike bewildered.
According to data provided by U.Today, the recent rally hit a wall around $0.605 on December 2nd, prompting XLM to retreat to the lower part of the range, with support at $0.3544. However, it appears that bulls have made a bold attempt to rekindle the rally, and their efforts have been met with impressive results.
As we move forward, a surge above $0.60 and then $0.64 might kickstart a fresh uptrend for XLM price. On the other hand, in the event of declines, support is envisioned at $0.354 ahead of the daily MA 50 at $0.312.
Stellar (XLM) has issued a warning to the crypto community regarding an increase in reports of scammers and wallet drainers in recent weeks. Crypto holders are advised never to click links from unknown sources and report any suspected scammers.
In related news, Stellar’s price rebound is being closely monitored by the cryptocurrency community.
Source: u.today
