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- Lumens Price finally showed positive momentum in today’s market with an overall gain of 1.45%.
- The cryptoasset has managed to cross and sustain over the price level of $0.040.
- The XLM/BTC pair is also performing positively in the market with a gain of 1.74% bringing the level to 0.000000612 BTC.
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 price area of $0.036.
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 $0.035.
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 crypto asset, it is having a positive momentum of 1.50% bringing the current price of stellar to a safe spot of $0.040. The market capitalization is $821,921,413 and volume traded of $290,915,775
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 40). 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 was 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: $0.042 and $0.045
Support level: $0.038 and $0.035
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.
