Stellar Lumens (XLM) Price Analysis: Stellar Price Jumps To $0.50 Mark With Magnificent Positive Momentum

• XLM finally showed positive momentum in today’s market with an overall gain of 14.72%.
• 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 9.71% bringing the level to 0.000000679 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

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 $0.40.

However, the support level of $0.038 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 14.00% bringing the current price level to a safe spot of $0.048. The market capitalization is $979,921,413 and volume traded of $506,915,775

The technical indicators have now turned slightly normal after going negative in yesterday’s market because of the downfall to the level of $0.37. This is a positive sign for the altcoin for regaining the bullish momentum.

The MACD levels are in the bullish zone. The buying volume made a bullish cross in the bullish zone which may provide positive movement to XLM.

The 24hour-RSI has climbed to the level of 70 and showing positive nature. 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 that reflects the strong buying volume going for the altcoin. This also indicates that the coin might sustain on this bullish movement. 

Resistance Level: $0.49 and $0.50
Support level: $0.48 and $0.45

Pratik Chadhokar

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.