XLM Holds Steady, Analysts See 'Launch-Ready' Structure for Long-Term Growth
XLM, the native token of Stellar, is currently trading at $0.39, marking a slight daily decline. Despite this, analysts are optimistic about its long-term prospects, with some describing its structure as 'launch-ready'.
XLM's recent price action has been stable, oscillating within a short-term consolidation band between $0.38 and $0.42. This period of calm often precedes more volatile phases. Currently, XLM is trading near $0.40, reflecting a 3.25% increase over the past 24 hours, with active buying interest pushing the price towards the first resistance threshold near $0.42.
Technical indicators suggest a bullish outlook. The Chaikin Money Flow (CMF) is at 0.12, indicating consistent capital inflows and a shift towards accumulation. The MACD indicator shows a developing bullish crossover, with positive momentum pointing towards improving sentiment and the potential for an upward continuation. Notably, XLM flipped its three-month 20 EMA into support during Q3, historically marking the beginning of major bullish cycles.
Looking ahead, Fibonacci extension targets have been projected between $2.40 and $8.30. These levels align with previous euphoric phases and could be the next major milestones for XLM. Analysts are highlighting the coin's higher time frame setup as a 'launch-ready' structure, suggesting a broader recovery cycle may be on the horizon.
Despite a minor daily decline, XLM's long-term prospects remain positive. Technical indicators suggest renewed accumulation and strengthening investor confidence. With Fibonacci extension targets hinting at a broader recovery cycle, XLM's 'rocket' appears to be refueled and ready for its next significant expansion phase, provided the broader market maintains its bullish undertone through Q4.
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