Stellar’s Last Week’s Momentum May Stretch Further

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Stellar Lumens has been through a moderately bullish price pattern over the last month. After registering a steep hike on April 6, the currency managed to trade around $0.049 with hefty volatility.

Over the last week, the XLM price has been up by 3.16% with multiple major price swings. Despite a huge fall on April 16, the coin managed to reflect recovery and gained its price above $0.049.

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Stellar Price Analysis

For a huge part of March, the XLM/USD has traded below $0.040 mark, and within the first week of April, it crossed $0.049. From there, it has been showing moderate fluctuations, and over the last week, the volatility increased further.

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XLM/USD Chart By TradingView

Stellar price was at $0.048064 on April 13, and over the next two days, it lost 7.13% value and reached to the lowest point of the week at $0.044638. However, from this price point, the XLM coin reflected strong recovery and fetched a 14.33% hike that took the price to the highest point of the week at $0.051015 by April 18.

Further, between April 18 & 20, the price of the Stellar currency marked a fall of 5.03% and got confined to $0.048447. After that, the coin regained its upward momentum and reached $0.04958 today with having support from its 20 & 50-day MAs at the same price point of $0.04937.

The XLM coin’s current RSI is now at 59.53 points, and in the next few hours, it may increase significantly. And as per the technical indicators, the next few days to be good for Stellar Lumens. Investors may see the value at the next resistance point of 0.052 in the next few hours.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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