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. 

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. 

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

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

Pratik Chadhokar

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.