Stellar Price Marks a Stellar Move; Gains Over 400% in YTD

Stellar Price Movement Overview

Stellar Lumens was seen trading below 10th position in the global crypto market is now one of the top 10 lucrative platforms, wherein the native coin XLM is currently trading at $0.207. Alongside, the currency breaches the 2-year resistance on the daily chart as it trades above $0.200, and it was at the onset of the week when the XLM coin breached above $0.230 briefly. The steep rise in the Stellar price was geared by major momentum pumped in the crypto market when Bitcoin gained massively and hit very close to its ATH but lacked $500 to reclaim and hit a fresh one. 

Stellar’s YTD Movement Reflects a Growth of Over 400%

However, over the past 11 months, right from the beginning of the year, XLM coin could only manage to rise as high as $0.119 and faced a stringent resistance thereafter against the US Dollar. Alongside, the YTD movement of the coin is commendable and has lured major traction and enough investors to the network.

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Stellar is often compared with XRP in terms of estimated Returns from Investment against the amount put, wherein the latter dropped as low as $0.55 from the high of $0.78. This clearly shows that XLM is still edging, wherein XRP appears to trade like a standstill but in the higher price range.

Stellar Price Analysis

Stellar News
XLM/USD Chart By TradingView

At the time of writing, Stellar price was seen trading at $0.207 after a steep candlewick rise on the daily chart, breaching the upper 20-day Bollinger Band and reflecting expanding volatility against the US Dollar. With an immediate stringent gain in momentum and price, XLM coin retains support from 50-day and 200-day daily MAs at $0.093 and $0.085. 

The MACD shows a complete and steady bullish crossover as the MACD line crosses above the signal line on the daily chart, resulting from a massive price gain. The RSI of XLM coin has already breached above the overbought zone exhibiting strong demand, which lies at 79.21.

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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