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Stellar Price Forecasts: XLM Price Is Under Bear’s Grip

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  • XLM is currently trailing inside the accumulation zone with a gain of 0.6% in a 24 hour time frame.
  • Technical indicators of XLM suggest a bullish move. Meanwhile the XLM/BTC pair is showcasing a positive move with a gain of 5.54%.

XLM price is at $0.402 with a gain of 0.6% in 24-hour time frame. The price of XLM can face resistance while going upside at $0.50. XLM price can  see a bounce back from $0.35. XLM price is  above 50 and 100 Days Moving Average. The 50MA (Red) line is at $0.4216, making it temporary resistance for the price. The price can see a positive cross-over from 50 MA on the daily chart. If the price moves below 100 MA, it would be tough for it to recover positively.

XLM is currently ranked at 14, with a market capitalization of $9,108,239,589. The coin volume went upto 50.93% and is at $1,544,370,161

Technical Indicators Forecasts A Bearish Trap For XLM Price

Source:Trading view

The weekly technical chart of XLM highlights a consolidated move for the coin. XLM price has also seen a gain of 1.74% on the weekly time frame. The daily chart of XLM hints at a positive crossover with a bullish move. On coming to the shorter time frame of 4 hours, the coin has formed an accumulation zone. If the price breaks above 10% 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 zone.

The volume indicator is at 121K represents lower buying pressure. If the price climbs above $0.75, then a buying rush can be observed.

RSI(Neutral): It is currently at 48.43, showcasing its presence in the neutral 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.

Conclusion

XLM price has seen a gain of more than 300% from the start of the year. The XLM/BTC pair is currently seeing a positive momentum and can see new heights.An Investor should do their due diligence before investing. 

Technical Levels

Major Resistance:$0.50

Major Support:$0.35

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