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- XLM is currently trailing under the symmetrical triangle with a gain of 1.86% in a 24 hour time frame.
- Technical indicators of XLM suggest a bearish move. Meanwhile the XLM/BTC pair is showcasing a negative move with a loss of 1.22%.
XLM price is at the level of $0.4153 with a gain of 1.86% in a day. The price of XLM canface resistance with the ongoing upside at the value of $0.5.The bounceback for XLM can be seen from the level of $0.35. XLM price is above 50 and 100 Days Moving Average. The 50MA (Red) line is at the level of $0.388, making it temporary support for the price. The price can see a negative cross-over from 50 MA on the daily chart. If the price moves below 50 and 100 MA, it would be tough for it to recover positively.
XLM is currently ranked at 12, with a market capitalization of $20,708,479,989. The coin volume went up by 13.21% and is at the value of $800,948,485.
XLM Price Ready For Next Bull Run
The weekly technical chart of XLM highlights a consolidated move for the coin. XLM price has also seen a loss of -1.74% on the weekly time frame. The daily chart of XLM hints at a negative crossover with a bearish move. On coming to the shorter time frame of 4 hours, the coin has formed a symmetrical triangle. If the price breaks above 5% of the current position, then it can see a new high being formed. The price of the XLM can also see a new low if it comes below the triangle.
The volume indicator is at 787K with the hint of lower buying pressure. If the price climbs above $1.5, then a buying rush can be observed.
RSI(Neutral): It is currently at the level of 53.02, showcasing its presence in the overbought zone. There is no slope formation in the RSI, suggesting the price may trail some more days in the consolidation zone. The overall sentiment of the RSI is Neutral.
XLM Price Can Again Setup Bullish Pace
XLM has seen a gain of more than 300% from the start of the year. The XLM/BTC pair is currently in a slump, but it can see a recovery any day. The XLM/USD pair can also be profitable for an investor in upcoming days.
Technical Levels
Major Resistance:$0.5
Major Support:$0.35
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
