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Buyers are maintaining their pressure as most coins remain in the green zone, according to the Verge. CoinMarketCap.
XLM/USD
Stellar Coin (XLM) gained a lot of value today, rising by 5.25%.
On the hourly chart, XLM price is in the middle of the channel, between the $0.4299 support and $0.4607 resistance.
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Since most of the ATR has been crossed, any sharp movements are unlikely to occur by the end of the day.
On the larger time frame, XLM price once again made a false breakout of the resistance level at $0.4530. However, if the daily bar closes near it and without a long wick, one can expect a price explosion, followed by a test of the $0.48 area soon.
From a mid-term perspective, it is too early to make any far-fetched price forecasts. Even if the weekly candle closes in the bullish zone, traders are unlikely to see a sharp rally as not enough energy has been accumulated yet.
XLM is trading at $0.4448 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
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