XLM and IOTA Lead Crypto Gains as Bitcoin Regains Strength

2 days ago 5

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Analysts predict a potential XLM price rally to $0.60 if momentum sustains above the $0.38 support level.
IOTA gained 18.53%, trading at $0.335 with a market cap of $1.2 billion with next major resistance at $0.40.

Stellar (XLM) and IOTA spearheaded a strong rally in the crypto market, with both tokens witnessing sharp price increases over the past 24 hours. Bitcoin (BTC), however, had limited movement and stayed in a tight consolidation range.

Bitcoin Price Update and Exchange Reserves

Bitcoin price stood at $96,183.10, with a modest 3.46% gain from the previous day. The BTC price ranged from a low of $93,016.43 to a high of $96,359.83 today. Despite the gains, Bitcoin remains in the consolidation range as it trades nearly 11% lower than its all-time high of $108,000 recorded in December 2024.

On a positive note, according to on-chain data from CryptoQuant, Bitcoin’s exchange reserves have decreased to 2,377,205.13. This represents a 0.25% decline in the last 24 hours and a 2.09% drop in the past week. The decrease in the reserves shows less selling pressure. On the other hand, growing calls in Switzerland for the national adoption of Bitcoin indicate an increase in mainstream usage of cryptocurrencies.

Stellar (XLM) Strengthens In Broader Crypto Market Pump

Amid a modest gain for BTC, XLM price emerged as the top gainer for the day. As of this writing, the XLM price has been up by 24.99% to $0.4299. Meanwhile, XLM’s price fluctuated between $0.3435 and $0.4576 within the last 24 hours. Meanwhile, Stellar’s market capitalization had increased by 24.78%, with a market cap of $13 billion.

Technical analysis indicates that XLM broke out of a bullish flag and pole pattern on the daily chart. It thereby signals a potential continuation of its upward trajectory. If XLM sustains its momentum and closes above the $0.38 support level, the token could see a further 60% rally, potentially reaching $0.63. Conversely, failure to hold its recent gains and a daily close below $0.33 might result in a 30% decline, with prices possibly dropping to $0.218.

IOTA Records Double-Digit Gains

IOTA token joined the rally, posting an 18.53% increase in value to trade at $0.335. The token’s 24-hour range was between $0.28 and $0.355. Meanwhile, its market capitalization reached $1.2 billion, reflecting bullish sentiment among investors.

Crypto analyst Lokman Duman pointed out critical levels for IOTA’s price action. The first resistance level is at $0.3400, which the token has already touched. If the price breaks this point, further upward momentum could push it toward $0.3600 and $0.4000. However, should the rally lose steam, key support levels are found at $0.3100 and $0.3000.