Stellar Lumens (XLM) Price Analysis: XLM In Potential Of Bullish Momentum Sustaining Above $0.040

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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.
  • XLM is having bullish movement in today’s market with an overall gain of 9.46%
  • The XLM/BTC pair is having negative momentum of -3.01% with a level of 0.00000648.

Capture
Source: coinmarketcap

The 7day-weekly chart of XLM looks bullish. XLM started with a price level of $0.039 and gradually gained bearish movement in the market. On March 16th, the altcoin jumped from the price level of $0.032 to $0.037 indicating that it is in the potential to make the bullish rally.

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However, the cryptoasset faced resistance at the price level of $0.059, which again brought back the price level to $0.038. However, XLM bulls came stronger in yesterday’s market, the altcoin broke above the level of $0.0038.

The current price of XLM is at the level of $0.042 with the market capitalization of $ 865,767,783 and volume trade of $443,639,979. The circulating supply is 20,257,840,566 XLM.

The next major mark for XLM would be the resistance level of $0.048. If XLM continues to have price growth in upcoming days, it could engage resistance at $0.050 too.

Stellar Lumens Technical Analysis

Screenshot (92)
Source: Tradingview

The technical graph reflects on the downtrend faced by stellar lumens due to the overall bearish momentum in the market during mid-March. The graph also reflects on the current gradual bullish momentum build by XLM bulls.

The 24 hour- RSI is at the bullish level of 65. This indicates that XLM is in the potential to build positive price growth and is expected to cross-resistance level of $0.048

The 24 hour-CCI is touching the overbought region, which indicates that XLM might fail in holding up a strong level of $0.050 in the market.

MACD levels are in the bullish zone after a long time due to the past downtrend activities faced. Currently, there is a strong buying volume going for the cryptoasset.

Resistance Level: $0.048 and $0. 050
Support Level: $0.040 and $0.033

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