Stellar (XLM) Experiences Significant Price Increase Following Golden Cross Formation
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**Stellar (XLM) Skyrockets 13% as Golden Cross Appears on Hourly Chart**
The price of Stellar (XLM) has skyrocketed by 13%, a significant gain that has been fueled by the appearance of a golden cross on its hourly chart. This sudden surge comes after weeks of sideways trading, and many are wondering if this is just a temporary bounce or the start of a new uptrend.
As we previously reported, Stellar’s key resistance levels are at $0.511, $0.60, and $0.636, where selling pressure may increase. However, if XLM can break through these zones, it could lead to further gains.
On the downside, XLM’s support levels are at $0.43, which coincides with the daily SMA 50, and $0.31, which could act as buying zones if the price retraces.
While this sudden rally has caught many off guard, some analysts believe that it may be a sign of increased institutional interest in the digital asset. According to our analysis, the golden cross on the hourly chart indicates a strong potential for further upside momentum.
In conclusion, the recent 13% surge in XLM’s price is a significant development that should not be ignored by traders and investors alike.
Source: u.today
