Price Analysis

Stellar (XLM) Trades on a Mixed Note; Technicals Head for a Bullish Bias

  • Stellar has recently found support level at $0.051; starts an uptrend on a mild note
  • The lower high pattern has been halted; the XLM coin has come back to square one as it has managed to reclaim its opening price after a plunge
  • Technical indicators are set to enter a bullish zone while Bollinger bands indicate towards a volatile phase on a gentle note

Stellar News Today

Bears are yet to leave the crypto market while all the coins are hustling to start an uptrend with a positive bias. The market pressure is denying the bulls to enter as the major crypto coins are facing hurdles, including Stellar Lumens.

Stellar Price Prediction

XLM price opened yesterday at $0.052, and the currency maintained its price range there till it saw a mild surge. At 9:00 UTC, Stellar price escalated and reached above $0.053, forming a ‘high.’ After a pullback, the coin traced two lower highs noting a negative sign for the price trend.

After this, XLM coin has initiated a price recovery on a weak note, and it has managed to trade above the 50% Fib level. At 11:32:02 UTC, the Stellar price is trading at $0.052.

Stellar Lumens News
XLM/USD Price Chart By TradingView

To the relief of the investors, technical indicators are in quite a positive zone. MACD is above the zero-line with its MACD line on the upside. RSI is at 60, showing no extremities. Bollinger bands are slowly moving towards a volatile spell for the coin.

Stellar price is likely to face resistance at $0.05361, $0.0545, and $0.05524 and support levels at $0.05198, $0.05126, and $0.05035.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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