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- XLM finally showed positive momentum in today’s market with an overall gain of 1.00%.
- The Stellar has managed to cross and sustain over the support level of $0.068.
- The XLM/BTC pair is also performing positively in the market with a gain of 2.15% bringing the level to 0.000000728 BTC.
On the 7day-weekly chart, XLM Price started by breaking the crucial mark of $0.070. The uptrend indicated that bulls will provide significant price recovery to the altcoin. Later, the positive momentum faced by the stellar lumens XLM forces the price levels to reach the critical area of $0.075.
The price went up to the level of $0.075 before a significant overall downfall was waiting for the stellar lumens (XLM). The downfall in the market for the past few days forced the stellar lumens to plunge to the crucial level of $0.60.
However, the support level of $0.060 came into rescue for the altcoin and avoided any further major downfall in the market.
Looking at the current condition of the stellar lumens, 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 $1,484,921,413 and volume traded of $625,915,775
Stellar (XLM) Price 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 for regaining the bullish momentum.
The MACD levels are reaching the bullish zone. The buying volume made a bullish cross in the bearish zone which provided positive movement to the levels.
The 24hour-RSI has climbed to the level of 50. A positive movement to the level of 60 will help to weaken the bears
The 24hour-CCI is showing negative nature in the market. It is in the normal region which reflects the strong buying volume going for the stellar lumens. This also indicates that the coin might sustain on this bullish movement.
Resistance Level: $0.070
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.
