Price Analysis

Stellar Awaits “Golden Crossover” on a Daily Chart; Gains Over 9%

Stellar (XLM), at the time of writing this article, was trading at $0.0759 and was hinting towards a positive intraday move. Just as BTC/USD is seen trading above $10,000 after 5 days of sluggish movement and testing supports around $9,600 and $9,700.

Moreover, we anticipated this bullish move due to the “golden crossover” that took place yesterday, and now Bitcoin along with major altcoins are expected to be pumped with momentum and hit fresh highs. Currently, the daily moving averages are showing two different scenarios but the price of XLM coin is likely to draw profits today on the daily chart.

Stellar Lumens Price Prediction

XLM Price News
XLM/USD Chart by TradingView

Firstly, analyzing the 20-day movement of XLM against USD, we see that the coin had a rising trend in the early half of the given timeframe. A steep rise also took the price of Stellar to mount at a fresh 90-day high at $0.0889, just when Bitcoin hit $10,500 and faced a strong rejection above it. Further, the XLM coin also faced rejection and nosedived just to bottom out at $0.0662.

However, the intraday move has been quite impressive as the coin gained the required momentum yesterday and is currently trading at $0.0755. The probable reason aligned to the major altcoins trading in the green today is the golden crossover 0f BTC on a daily chart that happened yesterday.

Stellar news
XLM/USD Chart by TradingView

Therefore, a more emphasized view shows that the intraday pace took the price of Stellar Lumens to mount at $0.0770 from $0.0701, marking a progression of over 9% in less than 24 hours. Owing to this growth to the assigned technical indicators, we see that the 200-day MA just crossed above 50-day MA, showing a “death crossover” and a slight correction to $0.0759 from $0.0770.  The price of XLM coin has risen above 38.20% Fib Level and holds a bullish intraday divergence, with RSI at 68.16, .

XLM Price News
XLM/USD Chart by TradingView

Comparing the intraday chart with the daily chart over the past 10 weeks, we see that Stellar is awaiting the “golden crossover” to make good the losses with moderate volatility, as seen from the 20-day Bollinger Bands. Just as the price of Bitcoin has hit above $10,000 after having a “golden crossover,” the major altcoins are likely to experience the same, which includes XLM coin as well, as per Stellar Lumens News.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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