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Stellar (XLM) has, in the last 30 days, gained 80.62% in price as momentum continues to rise. The technical setup of the asset suggests that its value could hit $0.50 if bullish sentiment lingers in the market space.
Stellar's golden cross signals breakout potential
As per CoinMarketCap data, Stellar is teasing a golden cross that could see its price inch closer to the $0.50 level. Notably, the 9-day and 26-day moving averages of XLM are likely to cross over on the hourly chart, signaling that upward momentum might be building.

For clarity, a golden cross forms when short-term moving averages cross above a long-term moving average. On the XLM’s chart, this is about to happen, and from all indications, the asset’s price could climb above its current level.
As of press time, Stellar was changing hands at $0.4288, which reflects a 2.15% decline in the last 24 hours. XLM previously traded at a peak of $0.4376 before being hit by market volatility as Bitcoin regained market dominance.
Additionally, Stellar’s Relative Strength Index (RSI) has dropped below neutral at 48.52. This suggests weakening momentum after a highly bullish July. However, XLM is registering increased trading volume and has climbed into the green zone by 0.99% at $397.73 million.
Such an uptick could support further price increases and push Stellar to flip the $0.50 level.
Analyst endorses bullish Nlnarrative
If Stellar investors increase their activities, XLM might hit a significantly bullish July and third quarter. Closing July on a bullish note would mean the crypto asset has maintained a record six-year streak for the month.
Interestingly, Peter Brandt, a veteran commodity trader, suggests that XLM might end up becoming a "rock star" in the crypto space. According to him, Stellar's technical charts indicate breakout potential in the near future.