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Stellar Lumens Price Analysis: Bullish Movement is Taking the value above $0.065

The value of the Stellar Lumen (XLM) is open with the downside trend in the market yesterday and had been through a lot of ups and downs. The moving averages were going down and the values retested various many resistances and support levels throughout the day. However, the currency is doing really well today.

Current Status of Stellar Lumen: Currently the currency is trading the value of $0.070992 and its value is increasing by 20.41%. This is a huge positive for the currency which was hovering yesterday between bear and bulls. The market capitalization of the currency is $1,425,842,885 and the 24-hour volume of the currency is $276,084,659. The circulating supply of the currency is 20,084,644,343 XLM and the ROI of the currency is 2,285.72%.

Stellar Price Analysis and Prediction: On the other hand, the currency was trading at the value of $0.057925 and the market capitalization of the currency was $1,163,350,942 at 01:29 UTC. The currency’s value then increased up to $0.058669 at 06:59 and then later up to $0.059122 at 16:44. However, then the value of the currency decreases and by the end of the day, the value was hovering around  $0.059 to $0.060.

The value of the Stellar Lumen has been hovering between the values of $0.058 and $0.059 since the previous 5 days. Yesterday also the currency was hovering between $0.058 and $0.059 but by the end of the day the currency’s value increased up to $0.060. The value of the currency yesterday increased by 10% and now today it is increased by 20%. This is clear that the currency’s technical signal is also showing the bullish movement.

The RSI of the currency is at the 50 mark and the chart is showing a stop and reverse (SAR) parabolic pattern is creating overhead the candles. This is the signal for selling and the bearish sign is overlying in the graph on the SMAs. The short term SMA is beneath the long term SMA. On the bullish side, the price of $0.066 is acting as a strong resistance level. Now the currency is trading at the value of $0.070 which is the acting at the current resistance. The main support levels of the currency are $0.57 and $0.66 and on the other hand, if the bearish pressure is taking down the price then the price of $0.0560 will act as strong support.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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