Stellar Price Analysis: Fast Cousin Of Bitcoin ,Not So Fast On Bull Run

XLM On A Bearish Move
  • XLM price continues the bearish momentum which started from Feb 13,2021 and made a 52 week high on Feb 12, 2021 trading session
  • Stellar price is at $0.417, which is up by 1.93% in the last 24-hour time-frame and 2.69% up from the previous week
  • XLM/BTC pair is in downtrend with a loss of 3.17% in today’s trading session with the value of 0.000008828 BTC
Source:Trading view

Stellar Lumens weekly chart highlights “Bulls On Rest” in today’s trading session. XLM current price is at the value of $0.417 with the major resistance at the level of $0.5 and the support level is at the value of $0.34. Meanwhile, the coin’s trading volume is $1,362,947,222 in the last 24-hour time-frame representing a decrease in the value of 55.11%. The XLM/BTC pair is in downtrend with a value of ( 0.000008828 BTC) which is down by 4.02% in today’s trading session.

Stellar Lumens(XLM) Technical Chart Indicates A Bullish Rally 

Source:Trading view

The technical chart of XLM highlights a consolidated trend. In contrast,  stellar price is at $0.417. According to Fibonacci levels, the critical support level for XLM is placed at fib0.5. The coin price is trading above the 50 and 200 Exponential Moving Average. The 50EMA blue line is at the value of $0.3759, making it temporary support. Stellar price can see a breakout in the upcoming days .

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Volume indicator with the value (4.38M) reflects a buying volume in the coin.The buying volume is less than the average which showcases that the buyers are getting away from the coin. 

MACD (Bearish): It has given a negative crossover in the previous trading session. Bars of the histogram is also indicating a negative momentum. The overall sentiment of MACD is negative.

RSI (Bullish): It is trailing with a value of 50.78  indicates its presence in between the oversold and overbought  zone. A positive slope is formed in the RSI, showing that the price may move further up before seeing a downtrend.

Conclusion

Stellar price went up to 1.93% on today’s trading session and the XLM/BTC pair has seen a loss of 3.15%. It is  Being called the “Fast Cousin” of BTC, XLM can see the uptrend in upcoming days. 

Technical Levels

Major Resistance:$0.5

Major Support:$0.34

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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