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<a href="https://en.coin-turk.com/bitcoin-buyers-finally-take-the-stage-hidden-clue-in-market-trading-ratio/”>Bitcoin price has once again experienced volatility ahead of the Fed meeting, but this time it does not trigger significant losses. The statements to be made by Powell are of utmost importance. The volatility in the king cryptocurrency has also benefited altcoins. A popular crypto has successfully surpassed a critical threshold.
Stellar (XLM)
For a few months, XLM coin rallies have pleased investors in a bear market. The popular cryptocurrency fell below a declining resistance line since July and hit a low of $0.101 on October 12th. Although the $0.11 support was briefly broken, the price started to rise again, making the decline a deviation.
At the time of writing, the XLM coin is finding buyers at $0.12. The Stellar Foundation released a report yesterday focusing on their targeted and achieved milestones in their roadmap. They also expressed their hidden intentions to produce more products and services in the hype areas. Among the highlights were the upcoming launch of the smart contracts platform Soroban on the mainnet and the steps to be taken with Stellar Asset Sandbox regarding asset tokenization.
We mentioned that the RWA sector has been hyped for a few months and more projects will take action in this field. We will see how many of these projects will actually generate benefits, but for now, most of them seem to aim to support their projects with hype.
XLM Coin Price Forecast
The RSI on the daily chart supports the continuation of the uptrend. If the RSI and the price continue to rise as they did today, it is expected that the price will make new highs. It is difficult to make a short-term prediction about XLM coin due to the uncertainty of where the fluctuations in Bitcoin price will lead. Even if the Fed keeps interest rates unchanged tonight, Powell’s remarks that will guide the market will be closely monitored by investors.
If Powell makes supportive statements for the markets, the XLM coin price can test the next resistance area at $0.160. However, any closings below the horizontal support area of $0.110 would invalidate the rally possibility despite the XLM price forecast.
In the worst-case scenario, a close below $0.11 could lead to a drop to $0.1 and $0.077.
