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- 1 Stellar crypto price has indulged in making a base around $0.1100.
- 2 Buyers have persisted in accumulation and are eager for a pullback.
The XLM price has displayed consolidation this week and made a hammer candlestick in the intraday session. Moreover, the price action signifies base formation and the token is anticipating a pullback for the short term. However, the token has reached the range low of $0.1100 and is eyeing to retain the 200 day EMA mark. Buyers are showing low confidence and the trading volume witnessed average. Additionally, the ongoing way is displaying multiple hurdles and buyers need to cross each one of them to regain uptrend.
At press time, the Stellar token (XLM) price traded at $0.1126 with an intraday gain of 1.22%, reflecting neutrality on the charts. It has a monthly return ratio of -6.18% and 15.22% on a yearly basis. The pair of XLM/BTC is at 0.00000172 BTC, and the market cap is $2.28 Billion. Analysts are neutral and suggest that the XLM token may retest the 200 day EMA mark and will replicate a pullback ahead.
XLM Price Volume Profile Analysis On Daily Chart
The chart displays the price to volume profile of the XLM crypto highlighting the range bound movements this week. Moreover, the price action replicates the bulls’ accumulation and the technicals are suggesting a pullback for the short term. The intraday trading volume surged over 9.67% to $110.90 Million.
Price Volatility & Weighted Sentiment Outlook
Amidst the range bound price move, the token displays massive fluctuations in the price volatility curve throughout the week. The price volatility curve noted a jump over 8.90% to 0.012. However, the weighted sentiment looks neutral and stayed near the midline around -0.352.
Social Dominance & X Followers Overview
Social dominance data noted a decline and dropped over 65.40% to 0.0134%, noting a follow-on decline in the discussion reports.Conversely, the X follower’s data replicated a bounce and surged over 45.20% to 229.
Development Activity and Total Open Interest Insights
The development data witnessed a notable rise of over 3.67% crossing the midline, noted around 174, showing a positive outlook. However, the derivative data signifies long unwinding, reflecting profit booking; the open interest fell over 1.79% to $21.84 Million.
Per the Fib levels, the Stellar price has slipped to its 23.6% zone and is hovering below the key moving averages. Similarly, the RSI curve has reverted from the oversold region, and a positive crossover was noted on the charts.
The total supply of the XLM token is 50 Billion, whereas the volume-to-market cap ratio is 0.0488, and it is ranked 47 in terms of market cap in the global crypto market.
Summary
The Stellar crypto price has made a bottom around $0.1100 and is trying for a pullback ahead. Moreover, the token is poised for a jump and may outperform in the upcoming sessions.
Technical Levels
Support Levels: $0.1050 and $0.1000
Resistance Levels: $0.1250 and $1400
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
