Stellar (XLM) is gaining momentum. The crypto asset has skyrocketed 10% in the last 24 hours and is approaching a golden cross formation on its four-hour chart.
The golden cross occurs when a shorter-term moving average (typically the 50-period) crosses above a longer-term moving average (like the 200-period). On XLM’s four-hour chart, this crossover is imminent as the four-hour SMA 50 is now facing upward and getting ready to cross above the SMA 200, indicating that upward momentum may be building in the short term.
At the time of writing, XLM was up 8.8% in the last 24 hours to $0.284, poised for its fifth consecutive day of gains. Several cryptocurrencies have seen gains as markets recovered from profit-taking earlier this week. Bitcoin (BTC) surged beyond $94,000 in the Asian morning hours Friday, with traders indicating increased optimism about short-term gains.
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XLM surges for four days in row
Stellar (XLM) has steadily ticked higher after rebounding from its recent low of $0.20 on April 7, attracting the attention of traders. In its latest surge, XLM has posted four consecutive days of gains since April 21, implying that a stronger recovery may be unfolding.
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This continuous increase has brought Stellar above the 50-day Simple Moving Average (SMA) of $0.261, a critical resistance level that has limited XLM price movement since January 2025.
With the daily SMA 50 surpassed, XLM’s next barrier is the 200-day SMA at $0.285. Breaking above this level could open the door to a more sustained rally and possibly a retest of the $0.444 to $0.514 range.
If selling pressure returns to the market, the $0.227 support will be watched closely, ahead of $0.199.
Source: https://u.today/stellar-xlm-eyes-golden-cross-as-price-makes-10-jump