Stellar (XLM) Price Analysis: XLM bulls break the major mark of $0.080 with an upsurge of 5 %

  • Stellar find 3 months high by breaking the major resistance of $0.080 
  • There has been a 61% price increase for the altcoin this year. 

The 13th largest cryptocurrency in the world has seen a 61% price explosion this year. It started with the price of $0.045 and broke a $0.08 mark today which means that the price of XLM is doubled up in just a span of two months. 

Currently, the price is around $0.081194 with the market capitalization of $1,630,274,999 and the 24H volume traded of $889,517,807. It is expected that if XLM bulls showcase their potential, it might have a new support level of $0.08. 

Source: Tradingview
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The parabolic curve in the graph defines the significant momentum XLM had this year. The volume traded was for the altcoin has also witnessed a significant increase. The volume traded at the starting of the year was around $911,500,592 and currently is around $1,607,097,050! 

The RSI is reaching a level of 80 which indicates that it might have reached its critical resistance area. CCI also remains in the overbought territory but a negative divergence from here can favor XLM bulls. MACD levels show that there is strong buying momentum going for stellar and will continue its bullish run for a while. 

We can say that XLM is trading within a neutral condition, however, if it manages to break the resistance of $0.083 then it could promise traders a long-term bullish run. 

Alternatively, if the sellers manage to push the price beneath $0.08, it will find support at $0.078. But any further decline below the given support level can result in major pricing pullback. 

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Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

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