Stellar Lumens (XLM) Price Analysis: Stellar Price Looking To Reclaim $0.050 Mark

• XLM finally showed positive momentum in today’s market with an overall gain of 2.72%.
• The cryptoasset has managed to cross and sustain over the price level of $0.045.
• The XLM/BTC pair is also performing positively in the market with a gain of 0.71% bringing the level to 0.000000704 BTC. 

On the 7day-weekly chart, XLM started by breaking the crucial mark of $0.050. The downfall indicated that bears will provide significant price damage to the altcoin

The price went up to the level of $0.048 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 2.00% bringing the current price level to a safe spot of $0.048. The market capitalization is $988,921,413 and volume traded of $401,915,775 

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 selling volume made a bearish cross in the bullish zone which may provide bearish 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 in a normal region which reflects the strong sustainability going for the altcoin. This aslo indicates that the coin might sustain on this bullish movement.  

Resistance Level: $0.50

Support level: $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.