Stellar Lumens (XLM) has been undertaking a dramatic +12% comeback as anticipation builds surrounding an upcoming announcement from the Stellar Development Foundation (SDF).
The SDF is a non-profit developers foundation; dedicated to growing and improving the XLM ecosystem towards the ultimate goal of empowering fluidity in the global economy.
Best known for providing the backbone to USDC – XLM has emerged as a leading Layer-1 for stablecoin blockchains, with the network gaining traction amongst payment companies such as Airtm and Bitso.
The sudden +12% move was triggered by a cryptic tweet from the Stellar Lumens twitter account, which catalysed a frenzy of XLM community excitement.
XLM Price Analysis: Can XLM Sustain Rally Ahead of Announcement, Is it Too Late to Buy Stellar?
Amid the upside swing, Stellar Lumens is currently trading at a market price of $0.126 (representing a 24-hour change of +1.8%).
This comes following an impressive +16% recovery rally since Sunday (September 3), which saw XLM bounce from double-bottomed support at the $0.10 price level.
The upside swing is a significant strengthening of technical structure, with price smashing back above the 20DMA yesterday (September 4) to establish a new level of supportive footing at $0.12.
With price action now atop the 20DMA, following a welcome golden cross on July 1, upside targeting is now unhinged from moving average resistance.
Despite the upside move, the RSI has yet to overheat – shifting from an oversold signal at 37 to an on-the-fence 51 with the recent push up.
This could trigger a need for a brief consolidation at this level atop the 20DMA, until the RSI cools off sufficiently.
The MACD on the other-hand has flipped bullish on the recent pump, now signalling bullish divergence at 0.000845.
Overall, XLM looks strong here, with solid support established and positive fundamental winds building alongside anticipation over the upcoming SDF announcement.
This leaves XLM with an upside target at $0.1675 (a possible +32.68%).
While downside risk from here is limited by local support at $0.11 (a potential -12.87%).
This leaves Stellar Lumens with a risk: reward ratio of 2.54, an attractive entry with more than double reward structure.
But while XLM enters a period of brief consolidation on the short-time frame, smart traders are already seeking alpha for the next big move – leveraging the power of AI analytics through an emerging crypto insights platform.
Launchpad XYZ: Just 22 Hours Left to Join AI Insight Platform Used by Pro Traders
There is less than a day left to buy Launchpad XYZ (LPX), an innovative ecosystem designed to lower the entry barrier to Web 3.0 with user-friendly tools, insights, and analytics.
Whether you’re a seasoned crypto user or just starting, this platform offers a range of features, such as NFT discovery, a decentralized exchange (DEX), a Web3 wallet, and utility token analysis.
At the heart of the Launchpad XYZ ecosystem lies the $LPX token – holders who stake a minimum of 10,000 tokens can reap numerous benefits, including substantial fee discounts, exclusive early access to NFT mint whitelists and presales, beta play-to-earn game launches, as well as cool community prestige badges.
The platform’s intention to list LPX on major cryptocurrency exchanges is expected to drive significant demand for the token.
Following the introduction of its primary features in Q3 2023, Launchpad XYZ anticipates substantial user adoption.
With its maximum token supply of 1 billion, $LPX is set to launch on crypto exchanges later this year with a fully diluted market cap of $70 million. This makes it a platform to watch in the rapidly evolving crypto industry.
Given its comprehensive suite of features and ambitious vision, Launchpad XYZ is set to break barriers and redefine the crypto space.
As it facilitates an inclusive Web3 ecosystem, the $LPX token is proving itself a promising opportunity for investors. Whether you’re new to the crypto world or a seasoned investor, Launchpad XYZ is one platform you can’t afford to overlook in 2023.
Explore the latest Web3 presale projects, P2E Hub for gaming, the Metaverse Experience Library, and the Trading Terminal for an immersive experience.
Future developments include a marketplace for fractionalized assets, a Trading Edge Game, and creator tools for brands.
Don’t miss out on the opportunity to invest in Launchpad XYZ, a promising project with the potential for significant growth.
For more information, visit Launchpad XYZ today, also stay tuned with the project Twitter and Telegram to receive all of the latest updates and team news.
Buy LPX Here
.Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.