XLM Price Analysis: What’s Next After 200% Upside of Stellar Lumens? A 100% More Probably

  • XLM prices which zoomed 220% before plummeting by 40%, is probably preparing for a 118% rise
  • XLM prices made a lag and pole pattern due to the profit booking 
www.tradingview.com

Stellar Lumens’ prices made a flag and pole pattern, with a pole of $0.2727; this means that a successful breakout can launch the coin by $0.2727. COnsidering the above statements and the recent buying in the coin, the coin can surge by 118% from current levels. The market cap and 24 hour volume of the coin are $5,948,993,556 and $389,524,474 respectively.

Stellar Lumens’ Flag Pattern May Surge The Coin By 120%

XLM
www.tradingview.com

Stellar Lumens’ prices are taking support from the previous high of $0.2272 while taking resistance from a diagonal resistance, resulting in a flag pattern. The coin’s price is also taking support from the 50EMA($0.2278). 

- Advertisement -

The prices are facing support from VWAP $0.2589 and resistance from 20EMA and 10EMA at $0.263 and $0.268 respectively.

The Bollinger Bands have contracted due to the consolidation of prices between the support and resistance. The upper band and median(10 EMA0 are acting as resistance at $0.30 and $0.268 respectively, while the lower band is acting as a support at $0.235. 

The RSI has crossed 50 levels and is hovering at 53 levels currently. 

The MACD(8,21,5) shows a change in the direction of the fast line which was falling from a very long time, it seems as if the fast line may cross over the slow line along with the breakout; bringing in a higher buying pressure. 

The ADX line is at 12.55 while the DI+ and DI- lines are at 22.5 and 18.71 respectively. SO far the buying pressure is exceeding the selling pressure, but accompanied with consolidation. 

Conclusion – 

Stellar Lumens’ price has reached to the pivot of the flag of a flag and pole pattern which may throw the coin to 100% up till $0.40. A decline from this level can reduce the coin $0.20.

Support: $0.227(50 EMA and previous high)

Resistance: $0.2635(20 EMA) and $0.27(10 EMA)

Join The Coin Republic’s Telegram Channel for more information related to CRYPTOCURRENCY NEWS and predication.

How useful was this post?

Click on a thumb to rate it!

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Download our App for getting faster updates at your fingertips.

Kartik Dhankanihttp://thecoinrepublic.com
Kartik Dhankani is a BAF Student based out of India and a stock market trader and Financial Analyst. He seeks to diversify his reach to different investment alternatives and analyse them using his knowledge for fundamental and technical analysis

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners