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- XLM finally showed positive momentum in today’s market with an overall gain of 1.23%.
- The cryptoasset has managed to cross and sustain over the price level of $0.060.
- The XLM/BTC pair is also performing positively in the market with a gain of 0.71% bringing the level to 0.000000811 BTC.
On the 7day-weekly chart, XLM started by breaking the crucial mark of $0.050. The uptrend indicated that bulls will provide significant price recovery to the altcoin
The price went up to the level of $0.064 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 $0.62.
However, the support level of $0.062 came into rescue for the altcoin and avoided any further major downfall in the market.
Looking at the current condition of stellar lumens, it is having a positive momentum of 1.20% bringing the current price level to a safe spot of $0.062. The market capitalization is $1,288,921,413 and volume traded of $561,915,775. The large magnitude of uptrend has definitely indicated a further bullish move for the altcoin in the market.
The technical indicators have now turned slightly negative after going blunt positive in yesterday’s market because of the uptrend to the level of $0.65. This is a positive sign for the altcoin for regaining sustainable momentum.
The MACD levels are in the bullish zone. The selling volume made a bearish cross in the bullish zone which may provide little negative movement to XLM.
The 24hour-RSI has climbed to the level of 60 and showing positive nature. The levels are looking too vulnerable for a negative divergence.
The 24hour-CCI is showing negative nature in the market. It is in a normal region which reflects the strong sustainability going for the altcoin. This also indicates that the coin might sustain on this bullish movement.
Resistance Level: $0.65
Support level: $0.62 and $0.60
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.
