As the market trades sluggishly before of a significant shift, Stellar (XLM) is one of the few cryptocurrencies making gains in the previous day.
XLM is now trading at $0.158, up 12% from the day before. XLM has risen 11% during the last week.
The bullish crossover of the daily moving averages MA 50 and MA 200, sometimes referred to as the “golden cross,” is encouraging for the price of XLM.
When a short-term moving average crosses over a long-term moving average, a chart pattern called a “golden cross” results. Future long-term bull markets are indicated by a golden cross, which typically relates to the strong confirmation of a long-term trend.
On the daily XLM chart, a bull flag pattern is also emerging in response to XLM’s ascent to highs of $0.18.
The surge is expected to continue in the days to come, so traders should keep a watch on it. A break over $0.20 may usher in a fresh uptrend for Stellar XLM.
Bitso taps Stellar Network
A Latin American cryptocurrency exchange called Bitso has announced a cooperation with Stellar to make it easier to conduct international payments.
This suggests that because of this partnership with Bitso, businesses from across the world that use the Stellar network will be able to conduct transactions in Mexico, Colombia, and Argentina.
In the nations where Bitso has a direct connection to the local banking system, the cooperation permits transactions in dollars using USDC, the stablecoin issued by Circle, offering up new opportunities for commerce and financial inclusion.
