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XLM rises with XRP and Solana as crypto ETF optimism builds
- Stellar (XLM) price increased by 3% in 24 hours amidst a general rise in altcoins.
- XLM's price surge is attributed to potential bullish catalysts and a positive sentiment around exchange-traded funds and decentralized finance.
- Stellar's price hit $0.28, and there are indications of a possible bullish breakout based on various metrics and technical outlook.
- Factors contributing to XLM's rise include positive movements in XRP, Solana, and Cardano, as well as regulatory optimism regarding crypto ETF approvals.
- Nasdaq recently added Stellar, Ripple, Solana, and Cardano to its benchmark crypto ETF price index, hinting at potential future growth.
- XLM's price forecast suggests a possible spike to $0.93 with resistance at $0.35 and $0.56, but challenges could arise if the price dips below $0.30.
- XLM had highs of $0.60 in December 2024, marking a significant increase from lows of $0.1 in November.
- Technical analysis indicates that XLM is trading above a key support level and may be gearing up for a breakout above a descending trendline.
- Indicators like RSI and MACD suggest upward momentum, potentially leading XLM to target highs from December 2024 and even touch its all-time highs around $0.93 from 2018.
- The next few months will be crucial as regulatory decisions on crypto ETF applications are expected to play a significant role in determining the future trajectory of altcoins like XLM.
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