Categories: Price Analysis

Stellar Price Reflects Tremendous Hike in the Last 24 Hours

Stellar is making a stellar move in the global crypto market against the US Dollar as its trades right below the significant lucrative projects of viz., Cardano, Polkadot, and Binance Coin. XLM coin has strengthened by over 60% from yesterday’s opening trading price of $0.135 to a 2-year high marked at $0.219. The gainful crypto has breached the major resistance above $0.200, with a recent boom marking a steep rise straight from $0.098 to $0.219.

Stellar Lumens Making a Stellar Move

With the recent bullish sentiment and complete positive crossover on the daily chart, Bitcoin—the largest cryptocurrency by market capitalization crossed above $19k and was trading just $500 below the ATH hit in 2017. The major altcoins also gained massively, including Stellar that has taken over the major investor’s attention. Additionally, BTC is also trading awestricken above $19k and breaking out even higher.

The major question that lies is, are we seeing Bitcoin All-Time High before the day end today? Well, if that happens, the altcoins are not away from reclaiming 2017 momentum and height.

Stellar Price Analysis

XLM/USD Chart By TradingView

At the time of writing, XLM was seen trading above $0.205 with a steep price trend against the US Dollar and is clearly breaching the upper BB that is seen widening. The spiking Stellar price results from the current momentum of the global market and regaining of the lost traction.

On the above daily chart, XLM coin is holding clear support from 50-day & 200-day MAs right at the through from where the currency started strengthening, and it drew a steep price trend, lying at $0.086 and $0.083, respectively. The widening of Bollinger Bands exhibits evident volatility due to the sudden push of momentum in the market.

Stellar’s 3-day chart against the greenback is a clear indication of rejection of a complete bull run that we reflect right now from the trading price of $0.155 over the past two years now. The 3-day MACD chart draws a clear bullish crossover. The RSI of XLM has already breached above the overbought zone due to steep price led steep demand of the investors, lying at 89.17.

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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