Is xlm showing upward trend

**Stellar's XLM token is currently exhibiting an upward trend**, as indicated by several factors: 1. **Recent Price Movement**: Stellar Lumens (XLM) has experienced a price increase of 0.82% in the past 24 hours, with the current price being $0.0971 per XLM. This positive movement suggests a short-term upward trend. 2. **Trading Volume**: The 24-hour trading volume for XLM is reported to be $48.89 million, which is a significant indicator of market activity. Higher trading volume can often accompany an upward price trend as investors buy and sell more actively. 3. **Market Performance**: When compared to the global cryptocurrency market, XLM has outperformed in the past week, with a price increase of 2.50%. This outperformance suggests a strong relative performance and could be an indication of a bullish trend. 4. **Technical Indicators**: The XLM price chart shows bullish indicators and a potential bullish divergence. The presence of bullish divergence, where the price makes a higher low while the RSI makes a lower low, can signal a potential trend reversal and an upward trend. 5. **Market Sentiment**: The sentiment around XLM appears positive, with predictions of potential price increases to $0.16 and $0.38. Positive market sentiment can contribute to an upward price trend as investors react to optimistic forecasts. 6. **Inflation and Supply Dynamics**: The removal of inflation and the significant supply burn in 2019 have made XLM's remaining tokens in circulation scarcer, which can contribute to upward pressure on the price. In conclusion, the combination of recent price movement, trading volume, market performance, technical indicators, market sentiment, and supply dynamics all suggest that XLM is currently showing an upward trend. However, it's important to note that the cryptocurrency market is subject to volatility, and predictions should be taken with caution. Investors should conduct their own research and consider their risk tolerance before making investment decisions.