Stellar Price Analysis: Comeback Of Bulls In XLM Price

Stellar Lumens Technical Analysis
  • XLM price bounced back to $0.41 from the support of $0.35 on Wednesday’s trading session
  • The 24-hour volume in XLM is at $988,866,695 with a 6.09% increase.
  • The XLM/BTC pair was trading at 0.000007567 BTC with a loss of 4.45%
Source: XLM/USD on TradingView

The 4-hour technical chart of XLM price projects an uptrend. According to pivot points, XLM’s critical support level is placed at $0.35. Whereas if it moves up, the key resistance level to watch is $0.58. While diving into the weekly chart of a 4-hour time-frame, it completes a bearish engulfing candlestick pattern.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (purple) intersects the SMA-100 (white), which projects a beginning of a bullish trend. The price is fighting the SMA’s. Investors may perceive a positive crossover in the chart, the price will also follow the positive trend.

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RSI indicator (Neutral), with a value of 48, indicates a neutral signal in the coin. Moreover, Investors can see a slight upward slope, it may surge more in future trading sessions.

XLM Price May Give Returns Upto 40%

XLM price traded at $0.41 with a loss of 2.97% in the last 24-hour and is also at a loss of 3.0% in the weekly time-frame. In contrast, the market capitalization stands at $9 billion. Technically, investors can perceive a positive crossover in SMA. Moreover, the movement of price can be towards the resistance of $0.58.

Resistance: $0.58

Support: $0.35

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Nikhil Ingole
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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