Stellar (XLM) Initiates an Uptrend; May Form Another Higher Low

• Stellar price has started a mild bull-run; yet to cross $0.056
• The XLM coin seems to have a support level at $0.054 which corresponds to the 0% Fib level
• Technicals are likely to enter a bullish zone with an intact bullish trendline

Stellar had struck a notable price spike yesterday when it touched $0.057 price mark and then pulled back. The overall bearish crypto market has been playing a vital role regarding the sluggish trend of the coin. However, XLM coin has recently started to recover its loss of valuation at a slow pace.

Stellar Price Prediction

Yesterday, the XLM price took a sharp rise after dipping below $0.054 from $0.055. After a downward correction, the coin has remained above the 61.80% Fib level. Before closing the day, Stellar price heftily declined and bottomed at $0.0541. The coin seems to have a support level there as it attempted a mild price recovery above $0.055.

Today, Stellar has opened at around $0.054, and after maintaining its price range there, the coin has started an upside movement. The XLM coin is already above the 23.60% Fib level and is likely to go beyond the 38.20% Fib level. A steady price rally above the 78.60% Fib level can be considered as a substantial price recovery. At 10:59:12 UTC, the price of Stellar is trading at $0.0552. Get an in-depth review of Stellar Lumens price forecast to Know more how the coin will perform on a long-term basis.

Here, Bollinger bands are yet to show any volatility sign according to the chart. The MACD indicator is in the bullish zone with its MACD line on the upside. Also, RSI is above 50, showing a stable phase.

Stellar Lumens is likely to see resistance at $0.0564, $0.0574, and $0.0584 and support levels at $0.0544, $0.0534, and $0.0524.