{"id":152306,"date":"2023-09-08T21:19:49","date_gmt":"2023-09-08T15:49:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=152306"},"modified":"2023-09-08T21:19:49","modified_gmt":"2023-09-08T15:49:49","slug":"can-the-recovery-hold-its-ground-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/can-the-recovery-hold-its-ground-crypto-news\/","title":{"rendered":"Can the Recovery Hold Its Ground? – Crypto News"},"content":{"rendered":"

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Stellar (XLM) has experienced a robust resurgence, bouncing off a crucial support level at $0.11. Chart indicators are pointing towards a promising outlook for bullish investors, marking a significant shift in momentum since mid-August. This second rebound from the same support level underscores the formidable strength exhibited by bulls, hinting at the potential for further gains.<\/span><\/p>\n

A <\/span>price analysis<\/span><\/a> notes that the $0.11 support level has emerged as a steadfast defense line for XLM enthusiasts. Recent price action has illustrated that bears would need to work diligently to flip this level in their favor, extending the bearish momentum.\u00a0<\/span><\/p>\n

However, the bulls have displayed unwavering determination, as evidenced by the latest retest of the support on Sept. 4, which triggered a notable price pump.<\/span><\/p>\n

As of the latest data, XLM is trading at $0.124 according to <\/span>CoinGecko<\/span><\/a>, reflecting a 2% rally over the past 24 hours and an impressive 10% surge in the last seven days. These gains are indicative of growing optimism among XLM investors.<\/span><\/p>\n

XLM Chart Indicators Favor Bulls<\/strong><\/h2>\n

The on-chain indicators are aligning with the bullish sentiment surrounding XLM. The Relative Strength Index (RSI) hovers around the neutral 50 mark, suggesting a healthy demand for XLM. <\/span><\/p>\n

Additionally, the Chaikin Money Flow (CMF) stands at +0.10, indicating an influx of capital into XLM. This influx is typically a bullish sign, pointing towards the growing confidence among investors in the cryptocurrency.<\/span><\/p>\n

Despite the resurging optimism, XLM faces a battleground in the<\/span> long\/short ratio<\/span><\/a> on exchanges. The tight margins indicate that sellers are actively trying to thwart the bullish rally. <\/span><\/p>\n

While long positions are inching closer to the critical 50% flip point of the long\/short ratio, sellers currently maintain the upper hand, exerting pressure on XLM\u2019s upward trajectory.<\/span><\/p>\n<\/p>\n

XLM market cap currently at $3.4 billion. Chart: TradingView.com<\/a><\/pre>\n
What Lies Ahead For XLM?<\/strong><\/h2>\n
With the $0.11 support level proving to be a formidable stronghold for bulls and chart indicators hinting at further gains, XLM enthusiasts are eyeing a target range of $0.17 to $0.19, aiming to revisit the highs last seen in July.<\/span><\/p>\n
The <\/span>crypto market<\/span><\/a> remains dynamic and volatile, so investors should remain vigilant and stay tuned for developments that could impact XLM\u2019s price trajectory.<\/span><\/p>\n
XLM has staged an impressive rebound, bolstered by strong support and positive chart indicators. While challenges persist in the form of bearish resistance in the long\/short ratio, the bullish momentum remains intact, with investors setting their sights on recapturing the July highs. <\/span>The cryptocurrency market continues to evolve, and XLM\u2019s resurgence is a testament to its resilience in the face of market fluctuations.<\/span><\/p>\n
(This site\u2019s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from Stellar<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Stellar (XLM) has experienced a robust resurgence, bouncing off a crucial support level at $0.11. Chart indicators are pointing towards a promising outlook for bullish investors, marking a significant shift in momentum since mid-August. This second rebound from the same support level underscores the formidable strength exhibited by bulls, hinting at the potential for further […]<\/p>\n","protected":false},"author":2,"featured_media":152307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-152306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=152306"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152306\/revisions"}],"predecessor-version":[{"id":152308,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/152306\/revisions\/152308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/152307"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=152306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=152306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=152306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}