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- Lumens price is trying to avoid the fall below the price level of $0.070 and indicates further bearish move.
- It must surge above $0.073 to have a safe spot and to build a bullish momentum in the market.
Stellar Lumens price is showing impactful price recovery signs from the starting of the month by crossing the crucial price level of $0.070. However, the resistance level of $0.075 came in between and dropped the altcoin to the crucial mark of $0.072
Currently, the altcoin has managed to sustain above the price level of $0.071. If XLM bulls manage to cross above the price level of $0.075, it will indicate that it is on the road of recovery. On the opposite side, if it breaks below the $0.070 price level, it will indicate that the bears can provide significant damage again this month.
Looking at the overall market conditions, XLM might able to cross the price level as the majority of the crypto assets are also taking the road for price recovery.
Recently, XLM bulls showed signs of existence by crossing a $0.070 mark a few days back. Currently, it is on bearish momentum and facing the loss of -1.55%. The current price is around $0.070 with the market capitalization of $1,467,436,334,696 and the 24H volume traded is of $610,051,923.
Stellar Lumens Price Analysis
The technical charts reflect on the steady bullish movement of stellar lumens which is followed by the marginal decline which is the result of attempting to cross $0.75 area. We can also observe that the current price is on the support line which favours XLM bulls. Any downfall below $0.070 can result in a major downfall for the stellar lumens.
The MACD levels are prevailing to bearish zones which indicates the altcoin might not be able to sustain the price level and avoid any further downfall.
The RSI is reaching a neutral level of 50 which is a positive indication for stellar lumens bulls.
CCI also had negative divergence from the overbought region to the positive region but the significant buying volume forced the levels to again reach the normal region. Overall, the technical indicators favour a bullish movement from here.
Resistance Levels: $0.075
Support Levels: $0.070 and $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.
