Price Analysis

Stellar’s Intraday Move Experiences a Pullback; Although Trades at $0.0716

Stellar Lumens (XLM), at the time of penning down this article, was trading at $0.072433 after giving a fresh 30-day high at $0.073857. The price trend is inclined towards the higher trading range as we see a steady uptrend.

Interestingly, the XLM price is immediately supported by 50-day MA, which happens to lie at $0.07122. However, as the current price is slowly correcting downwards, the coin left the support from 10-day MA at $0.0727.

Stellar Price Analysis

Stellar Price News
XLM/USD chart by TradingView

Analyzing the half-hourly movement of XLM against US Dollar, we see that the coin is experiencing a continual uptrend since the closing hours on February 04. The current placement of 20-day Bollinger Bands does not project about any unpredictable near-term volatility due to constant support.

The higher high pattern forming throughout the uptrend is likely to continue until the Stellar crypto takes a dip lower, to the nearest supports. Important to note that XLM coin has grown by over 22% in a span of 7 working days, which is an imminent move to hail through the losses of the bygone year.

Technicals

The MACD of Stellar is holding a bearish crossover as the Signal line overrides the MACD line, and we see a ‘’death crossover” due to intraday pullback.

Similarly, the RSI of the XLM coin is at 45.91 and is seen sliding downwards as the price corrects at $0.0716.

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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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