Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here




Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis
  • 5 Vote(s) - 2.4 Average
  • 1
  • 2
  • 3
  • 4
  • 5

#1
   
Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis

  • Stellar (XLM) is one of the best-performing coins out of top-20.

  • XLM/USD retreats from the recent high amid global sell-off on the cryptocurrency market.

Stellar (XLM) recovered from the recent low of $0.0683 to trade at $0.0815 on Sunday. By the time of writing, the coin has partially reversed the gains and settled act $0.0778; however, it still enjoys 3% of gains on a day-to-day basis. 
Currently, Stellar sits on 10th place in the global cryptocurrency market rating compiled by CoinMarketCap. The coin gained over 30% during the previous week as the Stellar Foundation burned 59 million XLM tokens.

Read more details here

XLM/USD, the technical picture

On the intraday charts, the initial resistance is created by a combination of SMA50 (Simple Moving Average) and the middle line of the Bollinger Band on 4-hour chart (currently at $0.0750). We will need to see a sustainable move above this handle for the downside to gain traction with the next focus on psychological $0.0700 that coincides with SMA100 daily and an upside trendline from October 23 low at $0.0571. 

Once it is out of the way, the sell-off is likely to gain traction with the next focus on $0.0667 (SMA100 daily) and $0.0650 (SMA50 daily).

On the upside, we will need to see a sustainable move above the psychological $0.0800 for the recovery to gain traction. This area is strengthened by the upper line of the Bollinger Band on 4-hour chart and closely followed by Sunday's high of $0.0815. The next resistance comes at $0.0846 (the highest level of November 5.

XLM/USD, 4-hour chart

[Image: XLM:USD-637090572201705065.png]




source https://www.fxstreet.com/cryptocurrencie...1911110847
by Tanya Abrosimova
Reply


Possibly Related Threads...
Thread Author Replies Views Last Post
  Stellar (XLM) Manages to Fetch 1.28% Hike in the Last 24 Hours crytocure 0 36 Yesterday, 09:42 AM
Last Post: crytocure
  Stellar (XLM) Initiates an Uptrend; May Form Another Higher Low crytocure 0 33 05-12-2019, 02:41 PM
Last Post: crytocure
  Stellar (XLM) Falls to Trade at the Previously Formed Support Around $0.055 crytocure 0 38 03-12-2019, 12:11 PM
Last Post: crytocure
  Stellar Kick Starts December on a Bullish Note; Lacks Stability above $0.057 crytocure 0 35 02-12-2019, 03:03 PM
Last Post: crytocure
  Stellar (XLM) Reflects Mild Bullish Vibes; Aims to End Week Above $0.060 crytocure 0 93 30-11-2019, 12:27 PM
Last Post: crytocure
  Stellar (XLM) Witnesses a Volatile Day; Hustles to Resume the Rebound crytocure 0 52 29-11-2019, 12:37 PM
Last Post: crytocure
  Ripple and Stellar Lead List of Worst Performing Crypto Assets Year To Date crytocure 0 59 29-11-2019, 07:07 AM
Last Post: crytocure
  A Tale of Dance between Ripple, Stellar Lumens & Bitcoin crytocure 0 51 28-11-2019, 10:30 AM
Last Post: crytocure
  Swiss crypto exchange SMART VALOR lists Stellar Lumens (XLM) crytocure 0 52 28-11-2019, 10:21 AM
Last Post: crytocure
  Stellar (XLM) Forms a Bearish Trendline After Surging Above $0.061 crytocure 0 46 27-11-2019, 03:03 PM
Last Post: crytocure



Users browsing this thread: 1 Guest(s)