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Stellar Kick Starts December on a Bullish Note; Lacks Stability above $0.057
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[Image: Stellar-Lumens-Cryptonewsz-780x470.jpg]
Stellar Kick Starts December on a Bullish Note; Lacks Stability above $0.057

  • XLM was above $0.057 till today morning; recently started a downtrend
  • The coin seems to have support levels between $0.055 and $0.056
  • Stellar has recently formed a bullish candle while technical indicators give a mixed signal
  • The coin is striking a fresh increase as the month starts

Stellar’s price path looks a bit down as compared to the last week of November; however, the coin started a fresh increase yesterday. Today, the coin has broken below the $0.057 price mark.

XLM price initially traced a strong price fall from above $0.0573 to $0.0553 within around four hours. With a steady rebound, the coin managed to reclaim the price range above $0.057, with a surge of 4.09%. A notable price correction near $0.0565 took place in Stellar’s price trend. After this, the coin maintained a mild uptrend till it closed with a weak pullback. Despite the pullback, the coin remained above $0.057 till it closed.

It is today when the price of Stellar has started a bearish price move, though it has formed a bullish candle recently. The coin, at 05:13:44 UTC, is trading at $0.0566 near the Fib retracement level of 38.20%. The Fib retracement level of 61.80% poses as a support level.

[Image: Stellar-Price-Chart.png]

The Bollinger Bands are forming a narrow pattern indicating a less volatile spell for the XLM coin. Meanwhile, SMA lines have just formed a death-cross noting a negative sign. RSI is near 37 showing no extremities at the moment. However, MACD is heading towards the bullish zone with its MACD line on the upside.

Stellar Lumens is likely to see support levels at $0.0597, $0.0614, and $0.0630 and support levels at $0.0564, $0.0548, and $0.0531.

by Ruti Vora

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