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- XLM finally showed positive momentum in today’s market with an overall gain of 0.30%.
- The cryptoasset has managed to cross and sustain over the price level of $0.065.
- The XLM/BTC pair is performing negative in the market with a loss of 4.07% bringing the level to 0.000000862 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. Later, the positive momentum faced by the cryptoasset force the price levels to reach to the critical area of $0.070.
The price went up to the level of $0.070 before an overall downfall was waiting for the altcoin. Yesterday’s downfall in the market would force the stellar lumens to plunge to low levels but got major support level of $0.068
Looking at the current condition of the cryptoasset, it is having a positive momentum of 1.00% bringing the current price level to a safe spot of $0.069. The market capitalization is $1,466,921,413 and volume traded of $817,915,775
Stellar (XLM) Technical Analysis
The technical indicators have now turned slightly normal after going bluntly positive in yesterday’s market because of the heavy uptrend. This is a positive sign for stellar lumens for sustaining the bullish momentum.
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 XLM.
The 24hour-RSI has climbed to the level of 70 which is better than yesterday (level of 50). A positive movement to the level of 75 will help to weaken the bears
The 24hour-CCI is showing positive nature in the market. It is in the normal region and near to overbought 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: $0.070
Support level: $0.068
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.
