The Announcement of Stellar Might Lead to a Bullish Reversal

The recent announcement by Stellar is expected to boost market sentiment and lead to a potential upward trend. Stellar generated positive reactions when it announced a significant reveal, scheduled for September 12, 2023. This news has energized investors who are now anticipating a potential bullish expansion.

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

Check out what X have to say about XLM.

Moreover, Santiment also recently pinpointed that XLM is an asset that has stayed bearish for a long time. This oversold state is due to the consistent short positions opened by market participants. However, the oversold market and the recent announcement from Stellar are likely to trigger a directional change for XLM to the upside.

Watch this to discover more. 

Stellar Key Levels to Watch: September 4

The market’s current trading range lies between $0.0750 and $0.1960. The price of Stellar has been in a downturn since the formation of the $0.1960 swing high. The downtrend began as the uptrend ended after a ‘failure swing’ in July 2023.

Following the truncated high of the fifth wave due to the selling pressure from the premium, XLMUSD crashed massively to the downside. The uptrend is expected to continue from one of the bullish order blocks in the discount zone.

Stellar Key Levels

Resistance Levels: $0.1330, $0.1460, $0.1960
Support Levels: $0.1110, $0.0950, $0.0750

Total Market Capitalization: $1.04T
Stellar Market Capitalization: $3.43B
Stellar Volume: $154M
Market Rank: #21

 

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