Stellar Lumens (XLM) Price Analysis: Bulls Preparing To Break $0.040 Mark

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.
  • XLM finally showed positive momentum in today’s market with an overall gain of 7.72%.
  • The cryptoasset has managed to cross and sustain over the price level of $0.037.
  • The XLM/BTC pair is also performing a slight negative in the market with a loss of 0.07% bringing the level to 0.000000690 BTC. 

Capture
Source: coinmarketcap

On the 7day-weekly chart, XLM started by breaking the crucial mark of $0.040. The downfall indicated that bears will provide significant price damage to the altcoin. Later, the downfall faced by the cryptoasset force the price levels to drop to a critical area of $0.028.

The price went up to the level of $0.041 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 $0.033 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 8.00% bringing the current price level to a safe spot of $0.037. The market capitalization is $766,921,413 and volume traded of $368,915,775 

Stellar (XLM) technical analysis

Screenshot (87)
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 in the bullish zone. 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 65 which is better than yesterday (level of 30). A positive movement to the level of 70 will help to weaken the bears 

The 24hour-CCI is showing positive nature in the market. It is an overbought region which reflects the strong buying volume going for the altcoin. This also indicates that the coin might sustain on this bullish movement.  

Resistance Level: $0.40 and $0.45
Support level: $0.37 and $0.35

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