XLM Gains 1.34% as Analysts Spot 2017-Like Pattern
XLM, the native token of Stellar, is currently trading at $0.37, reflecting a 1.34% gain over the past 24 hours. With a market capitalization of $11.8 billion and trading volume of $234 million, XLM is drawing attention from investors and analysts alike.
Analysts are noticing a pattern reminiscent of XLM's 2017 pre-rally phase. The daily chart of XLM/USDT shows the price trading just below the Bollinger Band midline, indicating reduced volatility and potentially foreshadowing a more significant price movement. Ali Martinez, an on-chain analyst, has highlighted this pattern in a comparison chart.
The Chaikin Money Flow (CMF) indicator currently reads +0.05, suggesting modest capital inflows and persistent buying pressure. Historically, prolonged compressions of Bollinger Bands have preceded substantial price shifts in XLM. With over 31.9 billion tokens in circulation, XLM's scale as a payments and remittances-focused blockchain is undeniable.
XLM is consolidating near its long-term range base, around $0.37, which could signal undervaluation if historical trends repeat. As accumulation phases often go unnoticed until a breakout occurs, investors are advised to keep a close eye on XLM's price action in the coming days.
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