Stellar Lumens (XLM) Price Analysis: Bulls Reviving Positive Momentum Again

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.
  • XLM finally showed positive momentum in today’s market with an overall gain of 1.00%.
  • The cryptoasset has managed to cross and sustain over the support level of $0.067.
  • The XLM/BTC pair is performing negative in the market with a loss of 2.49% bringing the level to 0.000000713 BTC.              

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Source: Coinmarketcap

On the 7day-weekly chart, Stellar XLM started by breaking the crucial mark of $0.065. The uptrend indicated that bulls will provide significant price recovery to the altcoin. Later, the positive momentum faced by the stellar lumens forced price levels to reach to the critical area of $0.064.

The 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 $0.65 again. 

However, the support level of $0.065 came into rescue for the Stellar lumens 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 $0.067. The market capitalization is $1,384,921,413 and volume traded of $404,915,775 

Stellar Lumens Price Analysis

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Source: Tradingview

The XLM 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 reaching the bullish zone. The buying volume is expected to make a bullish cross in the bullish zone which may provide positive movement to XLM. 

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 overbought 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: $0.065 and $0.062

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