Stellar Lumens (XLM) Price Analysis: Bulls Takes Charge Of Stellar Lumens Price

  • XLM finally showed positive momentum in today’s market with an overall gain of 5%.
  • The cryptoasset has managed to cross and sustain over the price level of $0.051630.
  • The XLM/BTC pair is also performing positively in the market with a gain of 3.61% bringing the level to 0.000000655 BTC. 

Source: Coinmarketcap

On the 7day-weekly chart, XLM started with the resistance level of $0.59 and $0.60 respectively. XLM bulls somehow managed to break the major resistance level of $0.60 but were unable to maintain sustainability. 

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The price went up to the level of $0.6 before a significant overall downfall was waiting for the altcoin. Yesterday’s downfall in the market forced the cryptoasset to plunge below the crucial level of $0.50. 

However, the support level of $0.49 came into rescue for the altcoin and avoided any further major downfall in the market. 

Looking at the current condition of the cryptoasset, it is having a positive momentum of 5.00% bringing the current price level to a safe spot of $0.51. The market capitalization is $1,045,921,413 and volume traded of $434,915,775 

Stellar (XLM) Technical Analysis

Screenshot (62)
Source: tradingview

The technical indicators have now turned slightly normal after going negative in yesterday’s market because of the significant downfall. This is a positive sign for the altcoin for regaining the bullish momentum. 

The MACD levels are still in the bearish zone. However, the buying volume is expected to make a bullish cross in the bearish zone which may provide positive movement to XLM

The 24hour-RSI has climbed to the level of 40 which is better than yesterday (level of 30). A positive movement to the level of 50 will help to weaken the bears 

The 24hour-CCI had a positive divergence to the normal region after touching the depth of the oversold region. 

Resistance Level: $0.55 and $0.60 

Support level: $0.50 and $0.49

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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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