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- XLM finally showed positive momentum in today’s market with an overall gain of 1.72%.
- The cryptoasset has managed to cross and sustain over the price level of $0.070.
- The XLM/BTC pair is also performing positively in the market with a gain of 1.57% bringing the level to 0.000000806 BTC.
On the 7day-weekly chart, stellar lumens XLM Price started by breaking the crucial mark of $0.060. The uptrend indicated that bulls will provide significant price recovery to the altcoin. Later, the positive momentum faced by the stellar lumens price to reach the critical area of $0.068.
Stellar Lumens price went up to the level of $0.069 before a significant overall downfall was waiting for the altcoin. Yesterday’s downfall in the market forced the cryptoasset to plunge to the crucial level of $0.67.
However, the support level of $0.067 came into rescue for the altcoin and avoided any further major downfall in the market.
Looking at the current condition of the stellar lumens price, it is having a positive momentum of 2.00% bringing the current price level to a safe spot of $0.070. The market capitalization is $1,466,921,413 and volume traded of $568,915,775
Stellar Lumens (XLM) technical analysis
The technical indicators have now turned slightly normal after going negative in yesterday’s market because of the downfall. This is a positive sign for the stellar lumens price for regaining 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 50 which is better than yesterday (level of 40). A positive movement to the level of 60 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 stellar lumens price. This also indicates that the coin might sustain on this bullish movement.
Resistance Level: $0.075
Support level: $0.068 and $0.062
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.
