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Stellar Lumens (XLM) Sees a Pullback After an Escalation Over a Day
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[Image: XLM.png]
Stellar Lumens (XLM) Sees a Pullback After an Escalation Over a Day

  • Stellar Lumens is tracing a gradual pullback, after yesterday’s surge above $0.064

  • XLM has recently seen support near $0.062, rebounds slightly

  • SMA lines are indicating a bearish phase, Stellar coin trades under selling pressure
XLM has recently started to move ahead with a positive bias against the U.S Dollar. However, Stellar Lumens, appears range-bound near $0.06 since the last few days. Moreover, Bitcoin has surged in the last couple of days and is above $10,000, which is anticipated to uplift the crypto market a bit.

Stellar’s price recovery is now struggling to gain momentum after it saw a price dip near $0.0622. Yesterday, the coin started to trade at $0.0632 and shortly it surged to $0.0639. The XLM price then pulled back to $0.0626 to gear up for the next upswing. XLM had its 24-hour high price at $0.064 with an increase of 2.26%.

After a downward correction, Stellar price again managed an increase to $0.0636 tracing an impulse pattern. As the coin saw rejection above, it started a downtrend which has been extended today. XLM price has recently formed a support level at $0.062 and is correcting up from there. At 04:13:30 UTC, XLM coin is trading at $0.0627.

XLM/USD Price Chart

[Image: Stellar-Price-Chart-1.png]
Stellar Price Chart

The short term SMA line of XLM is heading to climb above the long term SMA line. Currently, the coin is just above its 5-day SMA of $0.0626 but is below its 50-day SMA of $0.0757. The coin calls for a strong push above $0.075 to step out of the bearish impact.

XLM Technical Indicators

MACD chart has just noted a bullish crossover, and RSI is indicating a stable momentum. The coin may face resistance at $0.0638, $0.0645 and $0.0651 and support at $0.0625, $0.0619 and $0.0612.

by Ruti Vora

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