Stellar price analysis: Joins Ripple’s XRP in the bull run

• Ripple leads market bull run zooming above $0.50 to record intraday highs above $0.55.
• Stellar revamps the trend above $0.25 as the bulls target $0.30 in the short-term.

The market has seen the bulls awoken following an extended stability period. The investors of selected coins like Ripple (XRP) and Stellar (XLM) as the assets recorded amazing gains. XRP/USD is up a whopping 15% in the last 24-hours while Stellar (XLM) is showing gains of 4% for the same period.

Stellar has maintained the bullish trend in the rising channel that started last week on November 2. The overwhelming bulls’ present in the market since Sunday has seen the crypto break stubborn barriers to the upside in addition to stepping above $0.25. XLM/USD corrected towards $0.26 on Tuesday but the bulls stalled leading tom a downward correction. There is a support that been established at $0.25 and Stellar is currently making headway towards the key resistance observed at $0.26.

It is likely that the bullish trend will break above the rising channel resistance and increase the gains heading to $0.3. Meanwhile, the buyers must protect the short-term support at $0.25. The channel support at will also come in handy in the event a trend reversal massacres the short-term support. Other support levels are highlighted at $0.245 and $0.235 respectively.

XLM/USD 60′ chart