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Stellar (XLM) Makes Crucial Price U-Turn; Will It Last?
Stellar Lumens have been in a downward trend for some time now. However, recent market developments have led to a crucial price u-turn, with XLM’s value rising by 5% in the past 24 hours. This sudden turnaround has left many investors wondering whether this new trajectory will continue or if it is just a temporary blip.
In the short term, market analysts expect the crypto market to be largely impacted by macroeconomic factors, given that there is no crypto-specific trigger to drive price growth. However, broader crypto market movements might play a role in determining XLM’s direction. Increased buying pressure in the market could cement XLM’s price recovery.
It is crucial for investors to pay close attention to how the XLM price behaves near key support and resistance levels. A return above the daily SMA 200 at $0.28 would restore XLM to its previous range and prevent further declines. XLM may consolidate a little while longer above this level before making its major move.
The daily SMA 50 at $0.297 remains the short-term hurdle, with targets of $0.375 and $0.514 if breached.
Source: https://u.today/stellar-xlm-makes-crucial-price-u-turn-will-it-last
