Stellar (XLM) has shown significant growth since early July, attracting attention from traders and analysts. Technical indicators that might indicate further growth of the asset are being examined.
What is a Golden Cross?
A golden cross occurs in technical analysis when the 50-day moving average crosses above the 200-day moving average. This signals a potential bullish trend that may develop further.
Stellar (XLM) Performance
Since the beginning of July, Stellar (XLM) has increased by 104%, rising from around $0.222 to over $0.52. This growth has been driven by a combination of broad market confidence, increased altcoin activity, and development within the Stellar ecosystem.
Growth Prospects for Stellar
Analysts are highlighting the bullish potential on the Stellar chart. Renowned trader Peter Brandt has mentioned that "Stellar must remain above the April low and must close decisively above $1". The last time this golden cross occurred was in December 2024, when XLM rallied to $0.634.
Technical indicators like the golden cross, combined with high trading volume, may prepare Stellar for a new growth phase, potentially pushing the price closer to the $1 mark.
