XLM Gears Up to Surge 40% as Adoption Widens

Stellar XLM has depicted an unstable price trend in the last month, with its market value fluctuating between critical levels. After recording $0.1504 at the beginning of August 2023, the price has ranged between $0.11 and $0.14 in the short term.

September has seen XLM at $0.115 with several potentials for an upward trajectory. However, speculation is rising that Stellar’s coin, XLM, will maintain an unstable price movement shortly before surging afterward.

At 5:39 a.m. EST today, September 5, the coin is up by 0.6% to $0.1266 compared to yesterday’s price.

XLM Hits More Gains Than Losses at Critical Timeframes – It’s Gearing Up for Significant Surges

According to Coingecko, XLM gained a significant 21% over the past year, reflecting the solid bullish support from recent developments and positive news events.

Although it lost approximately 12% in the past 30 days, XLM has maintained its bullish streak, recording 3% during the last two weeks and another 7% within a week.

While XLM may later reflect the speculated price movements, the recent news events and developments within its ecosystem could fuel its rally, boosting the coin’s price by 40% in the long run.

Stellar XLM’s Recent Cryptic Post Could Be a Driver for XLM’s Surge

On September 2, Stellar’s official Twitter/X page posted a cryptic message to its community and supporters. The crypto token teased, “Something cool is dropping in 10 days.”

Something cool is dropping in 10 days.

Get ready to gear up for a change that’s got us all excited. Stay curious ? pic.twitter.com/CgNzfzwqmc

— Stellar (@StellarOrg) September 2, 2023

Also, the tweet urged the community to prepare for a change that will create more excitement for everyone. 

Following the post, XLM surged by over 10% within 24 hours on Monday, September 4, according to CoinMarketCap. The price rally has continued till today, September 5.

Outstanding Partnership Deals Might Fuel XLM’s Price Rally the More

In August, Stellar Foundation sealed a collaboration with MoneyGram International as it became a minority investor in MoneyGram.

The decision to invest in @MoneyGram was an easy one. After years of getting to know the business and the teams, we are excited to take part in MGI’s next chapter. It’s been an awesome few years working together, and we are excited for what’s next!https://t.co/PYAKHeXRxx

— Denelle Dixon (@DenelleDixon) August 15, 2023

The move will facilitate Stellar’s vision of becoming a prominent digital and fintech leader. Also, it will re-position XLM at the center of the digital transactions, potentially creating a spike in demand and value.

Also, the Stellar Development Foundation joined the Bytecode Alliance, a firm that enhances the development of WebAssembly (Wasm), Stellar aims to contribute actively to Web3 engagement for blockchain developers.

We are officially members of @bytecodeallies! Our goal? To shape the future and development of WebAssembly for blockchain developers.

Time to get to work ?https://t.co/MBLkWoNlDl

— Stellar (@StellarOrg) August 21, 2023

The Wasm partnership will also expose XLM to the Web3 space and broaden its utility and potential price rally.

XLM’s Upward Trajectory Is Strengthening – Could Short-Term Moving Average Act as Resistance?

The chart above’s three green candlestick formation shows the potential for an uptrend throughout this week. Also, these depict the increased buying pressure in XLM’s market over the past three days.

The Relative Strength Index (RSI) is also at 52, moving upward. This confirms the increasing buying activities, suggesting upcoming price rallies to the overbought zone (above 70).

XLM’s Moving Average Convergence Divergence (MACD) is above the signal line and has green bold histogram bars. This shows the bullish momentum backing its price movement, confirming its rally potential anticipated before the end of today.

Notably, the 200-day Simple Moving Average (SMA) below XLM’s price shows that the overall market trend is bullish in the long term.

While this may trigger investment or trading decisions, traders and investors must monitor the coin’s short-term price movement closely, as the 50-day SMA above signifies a bearish trend in the short term. As such, strategic trade setups are ideal for trading in XLM’s market.

XLM Sits Just Below Critical Resistance – Breakout Within Reach?

Stellar (XLM) is rallying toward its critical resistance at $0.1274. This level is expected to attract sellers. However, buyers are still active and pushing the price further.

Given the strong rally potential backing XLM’s price, the coin will likely break above this resistance before today ends. If…