Santiment, a prominent cryptocurrency analytics platform, highlighted Stellar (XLM) as the standout asset to watch in the new week due to its potential for a mini breakout. As of today, XLM has surged by an impressive 8%, catching the attention of traders and investors.
Stellar (XLM) has attracted consistent shorting activity among traders in the crypto community, indicating their belief in a potential price decline. This creates a situation where short squeezes and liquidations may occur, leading to a rapid increase in XLM’s value.
Santiment’s tweet also suggest closely monitoring a few other assets: $TON, $XMR (Monero), and $ARB. These cryptocurrencies might also show significant price movements in the coming days, which could make them appealing options for traders looking for opportunities in the volatile cryptocurrency market.
Stellar (XLM) Recent Performance & Price Volatility
According to the latest data from CoinMarketCap, Stellar (XLM) is trading at $0.122584, boasting a remarkable 24-hour trading volume of $167,967,503. This impressive trading volume indicates a staggering 120% increase in market activity, reflecting growing interest in the asset.
In the past 24 hours, Stellar witnessed a significant increase in price, amounting to 5.70%. Additionally, over the span of a week, it displayed a rise of 3%. Currently ranked 22nd on CoinMarketCap, Stellar boasts a market capitalization of $3 billion. Moreover, it has an impressive circulating supply of 27,464,247,989 XLM coins and a maximum supply of 50,001,806,812 XLM coins.
Regarding market sentiment, technical indicators suggest a neutral outlook, while the Fear & Greed Index stands at 40, indicating a state of fear among investors. Stellar’s recent performance includes 13 out of 30 (43%) green days, with a price volatility of 7.22% over the last 30 days.
The general sentiment in the Stellar price prediction landscape is neutral, with 20 technical analysis indicators signaling bullish and 10 signaling bearish signals.
Looking ahead, according to CoinCodex, Stellar’s 200-day Simple Moving Average (SMA) is expected to rise in the next month, reaching approximately $0.108896 by October 3, 2023.
Additionally, the short-term 50-day SMA is estimated to reach $0.122491 by the same date. However, the cryptocurrency market continues to offer exciting opportunities as traders and investors gear up for the week ahead. At the same time, those assets mentioned by Santiment are certainly ones to keep an eye on for potential price volatility and breakout potential.
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