Stellar Run Ahead? XLM Flirts With Price Breakout

Having rallied 25 percent in the last 24 hours, Stellar’s XLM token is now eyeing a bullish breakout on the price charts.

As of writing, XLM is changing hands at $0.57, according to data from OnChainFX. The cryptocurrency is up close to 100 percent compared to last week’s low below $0.30.

Twenty-four-hour trading volume stands well over $0.5 billion – the highest level since Jan. 5, according to CoinMarketCap. The sharp rise in volume indicates strong hands are at play and the price rally could have legs.

Furthermore, a look at the individual markets shows that investors are likely using bitcoin (BTC) to accumulate XLM. For instance, the XLM/BTC pair on Binance is up 18 percent, while volumes have increased by 10 percent.

While, XLM is still down 37 percent from its all-time high of $0.9381 set on Jan. 4, the price chart analysis indicates there is scope for a re-test of record highs in the near-term…

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