Stellar confirmed its bullish momentum as signaled in a previous article, setting its sights on the next upside targets from here. Price also gained traction above its double bottom neckline break, signaling that it could climb by the same height as the reversal pattern.

The double bottom is a complex one with a sloped neckline but is approximately 0.030 in height, so the resulting climb could be of the same size. This could take Stellar up to the 0.130 level which is roughly in line with the earlier highs.

The 100 SMA is above the longer-term 200 SMA to confirm that the path of least resistance is to the upside. In other words, the climb is more likely to pick up than to reverse. Price seems to have completed a quick retest of the broken neckline resistance and is eager to rally. The gap between the moving averages is also widening to reflect strengthening bullish momentum.

RSI is turning lower to indicate that selling pressure might be returning, possibly keeping the likelihood of another pullback in play. Stochastic is pointing back up after a brief dip lower, signaling that buyers are still putting up a fight.

Coinbase Pro announced support for Stellar, which suggests that the coin is ready for trading on the platform soon. Coinbase Pro is beginning to accept inbound transfers of XLM, which might be a matter of hours before the exchange can begin live trading with Stellar.

According to Coinbase’s blog post:

Since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The Internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.

The company further stated that there will be four stages to the launch and that it will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State.

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