Stellar (XLM) has seen a stunning turnaround after the recent market downturn. However, following the announcement of the CPI report and corresponding fears of an interest rate hike, a sell-off ensued.
The Donchian channel indicates that the average price of XLM is $0.1076 as of this writing. After a drop, the Awesome Indicator also gives off very strong bullish signs.
This could signal a rebound. The XLM market has showed a spectacular recovery from the September 13 catastrophe, with prices climbing back above the $0.1004 support line that sustained the downturn from August 14 to September 6.
At the 4-hour time mark, the coin is following an uptrend. Looking at the wider picture, however, we see that the upturn may be short-lived.
Stellar Rally Gives