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- Lumens price showed positive momentum in today’s market with an overall gain of 5.00%.
- The crypto asset 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 2.61% bringing the level to 0.000000628 BTC.
On the 7day-weekly chart, XLM started by breaking the crucial mark of $0.040. The downfall indicated that there can be significant price damages by the bears. Later, the downfall faced by the crypto asset force the price levels to drop to a support area of $0.025.
The price reached the mark of $0.042 before a significant overall downfall was waiting for the altcoin. Yesterday’uptrend in the market forced the crypto asset to sustain on the crucial level of $0.40.
Looking at the current condition of the crypto asset, it is having a positive momentum of 3.50% bringing the current price level to a safe spot of $0.042. The market capitalization is $852,921,413 and volume traded of $309,915,775
Stellar (XLM) Technical Analysis
The technical indicators have now turned slightly normal after going positive for the consecutive day. This is a positive sign for the altcoin for bringing back the bulls.
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 stellar.
The 24hour-RSI has climbed to the level of 66 which is better than yesterday (level of 50). A positive movement to the level of 70 will help to harm the bears but the current negative nature may provide resistance
The 24hour-CCI is showing positive nature in the market. It is an overbought region that reflects the strong buying volume going for the altcoin but a sharp negative divergence faced just touched the normal region. This also indicates that the coin might sustain on this bullish movement.
Resistance Level: $0.045 and $0.048
Support level: $0.042 and $0.040
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.
