Stellar Lumens (XLM) Price Analysis: Will Stellar Price Able To Reclaim $0.0050

  • Stellar Lumens (XLM) finally showed positive momentum in today’s market with an overall gain of 3.72%.
  • The cryptoasset has managed to cross and sustain over the price level of $0.048.
  • The XLM/BTC pair is also performing positively in the market with a gain of 3.71% bringing the level to 0.000000712 BTC. 

Source: Coinmarketcap 

On the 7day-weekly chart, XLM started by breaking the crucial mark of $0.040. The positive momentum indicated that bulls will provide significant price recovery to the altcoin

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The price went up to the level of $0.050 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 $0.45. 

However, the support level of $0.045 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 4.00% bringing the current price level to a safe spot of $0.048. The market capitalization is $989,921,413 and volume traded of $390,915,775 

Screenshot (193)
source: Tradingview

The technical indicators have now turned slightly negative after going neutral in yesterday’s market because of the downfall to the level of $0.45. This is a negative sign for the altcoin which may stop the momentum of regaining the bullish momentum. 

The symmetric triangle was broken in the positive side by the XLM bulls which are providing the base for price recovery.

The Fib retracement levels also indicate that XLM price is targeting for sustainability over the price level of $0.050 this time.

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

The 24hour-RSI has climbed to the level of 60 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 a normal region which reflects the strong buying volume going for the altcoin. This aslo indicates that the coin might sustain on this bullish movement.  

Resistance Level: $0.49 and $0.50 

Support level: $0.48 and $0.45

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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.

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