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

• Stellar price finally showed positive momentum in today’s market with an overall gain of 5.91%.
• 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 -3.07% bringing the level to 0.000000600 BTC. 

On the 7day-weekly chart, the stellar price 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 $0.030.

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 $0.036. 

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 6.00% bringing the current price level to a safe spot of $0.039. The market capitalization is $807,921,413 and volume traded of $382,915,775 

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 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 55 which is better than yesterday (level of 30). A positive movement to the level of 70 will help to weaken the bears but the negative nature of RSI doesn’t support the expectations.  

The 24hour-CCI is showing negative nature in the market. It is a normal 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: $0.040 and $0.050
Support level: $0.036 and $0.033