XLM Breaks Multi-Month Trend as Protocol 23 Fuels Surge Toward $1

XLM broke out of a multi-month descending channel, signaling a trend reversal just as momentum accelerated with a 104% gain since July.

A bullish Golden Cross is forming, with the 50-day MA surging toward the 200-day, previously sparking a rally to $0.63.

Protocol 23’s August 14 vote brings 8 key upgrades, aligning perfectly with the breakout and fueling confidence across the Stellar ecosystem.

Stellar’s native token, XLM, is gaining strong bullish momentum as the crypto market rallies on powerful technical and fundamental signals. Recently, XLM surged by over 104% from early July, jumping from $0.22 to $0.52. Now, eyes are fixed on the looming Golden Cross — a well-known bullish pattern where the 50-day moving average crosses above the 200-day moving average.

This signal last appeared in late 2024 and pushed XLM to a local high of $0.63. Many analysts now believe the $1 mark is within striking distance.

Golden Cross Sparks Optimism

The Golden Cross pattern is a major bullish indicator. It reflects long-term trend reversal and strong buyer confidence. The 50-day moving average is increasing very steeply. It is well poised to cross the 200-day level, which will prove the bullish structure. This technical setup often attracts fresh capital, and traders are reacting fast.

Momentum is building. Trading volume has crossed $654 million in the last 24 hours. Price is holding steady around $0.472 as of writing. In the past seven days, XLM has climbed another 50%, outperforming most top-tier cryptocurrencies.

Protocol 23 Set to Supercharge Stellar

Beyond the charts, Stellar’s Protocol 23 upgrade is generating excitement. A mainnet vote scheduled for August 14 could push eight critical updates live. These are augmentations in smart contracts, transaction scale, and user capacity. In case the upgrade is successful, it will reshape the place of Stellar in the cryptocurrency industry.

Investor confidence is rising fast. The potential utility boost from Protocol 23 could bring more use cases and adoption. As a result, this aligns with the timing of the technical breakout.

Breakout Validated, Consolidation Begins

According to Froggy, XLM has broken out of a multi-month descending channel. The break out confirms a significant trend change. At the time of the writing, the price is bouncing out from its former resistance line—a typical sign of a bullish reversal. This phase of healthy consolidation often signals upcoming continuation.

With strong fundamentals and bullish technicals in play, XLM’s rally seems far from over. Both seasoned traders and long-term holders are watching closely. A move toward $1 may now be more than just speculation—it may be next in line.

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