XLM Price Surge Continues as Momentum Builds With Strong Buying Signals

Stellar (XLM) is showing impressive bullish momentum, gaining 2.32% in the past day to trade around $0.2847, with its market cap at $8.78 billion.

Stellar (XLM) continues to climb, approaching the important Stellar key resistance level around $0.30. The RSI remains elevated at 71.5, suggesting strong buying momentum but also hinting at possible short-term volatility. Stellar Momentum has intensified, supported by bullish EMA crossovers and strengthening ADX readings.

XLM price surge over the past week, with a 19% rise, highlights growing investor interest.

Stellar: Bulls Defend Critical Support

XLM’s short-term price structure remains bullish, with strong EMA crossovers and sustained trend strength. XLM Momentum continues to move higher, putting the $0.30 Stellar key resistance zone directly in play.

Traders remain optimistic, but technical conditions warn of a potential pause if immediate resistance holds. Stellar’s ability to hold Stellar price support near $0.282 will decide the next move. If XLM can clear the XLM key resistance decisively, a XLM price surge toward $0.349 could unfold swiftly, giving bulls fresh upside targets after weeks of consolidation.

At present, the Relative Strength Index (RSI) on the 4-hour chart is at 71.5, indicating that the buying momentum is strong, but if the price faces difficulties breaking through the XLM key resistance, it may encounter difficulties moving further up.

Moreover, the Average Directional Index (ADX) reading of 37 signifies a sustained trend strength.

Optimism Surges as Momentum Flashes Strong Signals

The Relative Strength Index (RSI) is at 71.5 on the 4-hour chart, indicating that the buying momentum is strong, but if the price faces difficulties breaking through the XLM key resistance, it may encounter difficulties moving further up.

The Average Directional Index (ADX) reading of 37 signifies a sustained trend strength, highlighting the strength of the XLM’s recent move.

The sustained strength of the Average Directional Index (ADX) indicates that the current trend is likely to continue, suggesting that the Stellar price may rise to test the XLM key resistance.

The sustained strength of the Average Directional Index (ADX) indicates that the current trend is likely to continue, suggesting that the Stellar price may rise to test the XLM key resistance.

The sustained strength of the Average Directional Index (ADX) indicates that the current trend is likely to continue, suggesting that the Stellar price may rise to test the XLM key resistance.

The strong RSI reading, above 70, reinforces the bullish case, even as the XLM key resistance at $0.30 remains a pivotal test for the asset.

Traders are eyeing a decisive breakout, targeting potential highs near $0.349 and $0.37 if the Stellar key resistance gives way. However, maintaining the current Stellar price support at $0.279 will be essential for avoiding deeper corrections.

As traders monitor the evolving structure, XLM key resistance and Stellar’s broader market sentiment will determine if the rally can extend into new highs.

The post XLM Price Surge Optimism Grows as Momentum Indicators Flash Strong Signals appeared first on Web3Wire.

Web3Wire Batch 3Complete Node Inc says it will shut down its Solana-based DeFi protocol, ChainGPT, on April 28, winding down operations after launching the platform in December 2023. In a statement, the protocol announced the upcoming closure and expressed gratitude to the community for their support.

ChainGPT was designed to combine the capabilities of large language models (LLMs) with DeFi protocols. The protocol aimed to revolutionize the way users interact with Web3 by integrating cutting-edge technologies.

The protocol's closure comes amid a broader slowdown in the DeFi sector, with new projects struggling to gain traction and total value locked (TVL) stagnating. Despite the challenges, Complete Node Inc says it remains committed to exploring innovative solutions in the blockchain space.

"We are shutting down ChainGPT on April 28, 2024. We would like to thank the community for your support during this journey. Our Solana-based DeFi protocol, ChainGPT, launched in December 2023 with the vision to combine the power of large language models (LLMs) and DeFi protocols.

We set out to revolutionize the way people experience Web3 by merging the latest technologies. Through ChainGPT, we aimed to create a seamless and efficient platform that unlocks new possibilities in decentralized finance.

However, after careful consideration, we have made the difficult decision to wind down ChainGPT operations.

Our team remains passionate about exploring the potential of blockchain technology to solve real-world problems