Stellar (XLM) Retests 2-Month Resistance at $0.070

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  • Stellar, at the time of penning down this analysis, was trading at $0.0706 and has readily breached a 2-month resistance around the same price area
  • With the lowest in the given time frame marked at $0.0261, XLM coin has made an exceptional rebound as it currently trades around $0.0706

Moreover, as the market is again pumped with momentum and traction, Bitcoin has also breached above $8k just today, and to the crypto investors’ relief, the crypto market is the least affected by the ongoing Pandemic when we compare to other investment avenues. Crypto has been a digital mode of investing and trading since forever, which is now proving to be advantageous. When all the other investment avenues and tools struggle to keep up, when the global currencies have lost their support, crypto has left no room to be a waiver.

Stellar Price Analysis

Stellar News
XLM/USD Chart By TradingView

On the half-hourly chart, XLM coin is breaking all the bearish barriers as it waves around $0.070 and hits the 2-month resistance. With no glimpse of unprecedented volatility as observed from the 20-day Bollinger Bands, Stellar has retained steady support from the 50-day and 200-day daily MA. The intraday has been quite a gainer, and it was just two days back when the price soared above $0.065 with a steep bullish engulfing.

The technicals draw a bullish image as the MACD crossed above the signal line due to intraday traction, and the RSI of XLM coin is already touching the overbought region at 70.67. With a complete bullish picture, we expect the coin to successfully breach above $0.073 and $0.075.

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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