Stellar price prediction remains bullish till it holds $0.1000 support. It suggests buyers are active and a sharp rise is possible in the coming month. However, the XLM price is mildly bearish for the short term.
XLM price is near to the crucial support and buyers are trying their best to rebound. It witnessed minor profit booking from the higher levels retraced down to the 50-day EMA.
Stellar price sustains above the 200-day EMA showcasing the positional trend in an upward direction. The 50-day EMA is acting as immediate support for the bulls. If the price drops below the 50-day EMA then the short-term trend might turn bearish.
In the mid of July, XLM crypto price shot up 61% in a single day and attempted to break the $0.1800 hurdle. The attempt failed but buyers were able to hold the 50% of the gains.
Stellar price is trading at $0.1261 with an intraday decline of -0.47%. The pair of XLM/BTC is trading at 0.00000441 on a flat basis.
Will Stellar Price Bounce Back from the Demand zone?
Stellar price prediction suggests a significant rise is possible in the coming months. XLM tried twice to break the $0.1800 hurdle but got rejected. It shows sellers are active on the higher levels.
Slow and steady XLM crypto prices declined and retraced 50% of the gains. Till the XLM price sustains above $0.1000, the prices are expected to remain in a bullish grip.
However, the prices will gain positive momentum when buyers are able to break the $0.1800 hurdle. On the other hand, if the XLM crypto price drops below $0.1000 then it might raise concern for its investors.
XLM Price is in Short Term Correction Phase
XLM price is in a short-term correction phase and forming a bearish candle on the weekly timeframe. The crypto leader BTC price drops below the crucial support of $29K which might negatively impact the prices of other Altcoins.
The MACD curve slopes down and the histogram bar is declining. It indicates XLM price might continue to trade with a mild bearish bias for some more time.
The RSI at 37 denotes weakness but near to oversold territory and short-term pullback may trigger anytime.
Conclusion
Stellar price prediction suggests a rise in the long run. However, for the short term, XLM’s price seems to be in a correction phase. The technical analysis suggests XLM crypto price is near the demand zone and the possibility of a bounce is high.
Technical levels
- Resistance levels: $0.1600 and $0.1800
- Support levels: $.1200 and $0.0956
