Stellar Price Prediction as XLM Rockets Up 10% Overnight – What's Going On?
The price of Stellar (XLM) has jumped by 10% in the past 24 hours, with its move to $0.125598 coming after the Stellar team hinted at the release of "something cool" in the next ten days.
Today's change means that XLM is up by 5% in the past week but still down by 7.7% in the last 30 days, although the utility token remains up by 76% since the beginning of the year.
And with Stellar on the brink of announcing something potentially big in the next week or so, XLM could be in for some more gains very soon.
XLM's chart indicates that the coin has gained some significant momentum after a period of relative weakness and underperformance.
In particular, its relative strength index (purple) has shot above 50 after a couple of weeks between 40 and 30, suggesting that bulls are returning to the token and helping to increase its momentum.
Likewise, its price is about to climb over its 30-day moving average (yellow), providing another sign of growing buying pressure, while the 30-day is also about to rise higher above the coin's 200-day average (blue).
It's also encouraging to see that XLM's medium-term support level continues to rise steadily, providing the altcoin with an increasingly high base from which to mount further rallies.
Based on all this, it looks as though XLM could comfortably rise to $0.130 or $0.135 before its current rally loses momentum and becomes oversubscribed.
As noted above, it seems as though the main catalyst for today's events is a cryptic announcement from Stellar's Twitter account, which has hinted that "something cool is dropping in 10 days."
No further details have been provided on this incoming surprise, yet the likeliest explanation would probably involve either the announcement of a new partnership or of
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