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

XLM May End the Week on Bullish Note; Price Approaches Key Support
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

[Image: Stellar-Lumens-Cryptonewsz-08-1.jpg]
XLM May End the Week on Bullish Note; Price Approaches Key Support

  • Stellar’s weekly chart paints an optimistic picture while the 4-month chart still shows a price decline

  • XLM is set to test the support level at $0.0597 once again before resuming the uptrend

  • The major support line corresponds to the 38.20% Fib level; next resistance level stands at $0.063

  • Technical indicators are giving positive signs while XLM trades with a buying sentiment

XLM coin was bullish yesterday, and today, the coin is correcting downwards as it is looking for support to rebound. Over the last one-week, Stellar Lumens has formed a strong and active support line at the 38.20% Fib level which has been tested multiple times in the last couple of days.

Meanwhile, Bitcoin has also started its pullback after yesterday’s surge above $9500. However, BTC’s overall bullish trend seems intact.

Stellar Price Analysis

[Image: Stellar-price-chart-1-weekly.png]

Stellar had kick-started the week with a bit of fluctuation, as shown in the chart. The coin had a flourishing mid-week with higher highs; however, the weekend is likely to remain bumpy.

Despite the ups and downs, the support line may help the XLM coin to trigger a price recovery. Stellar cryptocurrency is anticipated to have a price rally soon after a plunge above the support level, just the way it had initially in this week.

Here, Bollinger bands are heading towards a volatile phase after the recent squeeze, while RSI is at 47, showing a stable momentum.

[Image: Stellar-Price-Chart-2-4-month.png]

XLM, in its weekly chart, looks bullish but, the wider picture is a bit different. After Stellar’s sharp rise above $0.086 in last September, the coin has constantly been dropping. Apart from the lower highs, XLM is repeating one more negative price move here.

After a rise above $0.083, it had a dip below $0.075, and then it continued the heavy decline. The altcoin is again performing a similar price move; however, Bitcoin bulls are still in the game to rescue the XLM’s price trend.

by Ruti Vora

Possibly Related Threads...
Thread Author Replies Views Last Post
  Stellar (XLM) Price Analysis (February 16) crytocure 0 105 16-02-2020, 03:39 PM
Last Post: crytocure
  XLM Gathered a Bullish Momentum; May Sail Smoothly till $0.0865 crytocure 0 29 14-02-2020, 12:13 PM
Last Post: crytocure
  XLM Remains Bullish Even After an Escalation of 4% Overnight crytocure 0 61 07-02-2020, 12:26 PM
Last Post: crytocure
  Stellar Lumens (XLM) Price Analysis: What’s Next? crytocure 0 69 05-02-2020, 11:50 AM
Last Post: crytocure
  Stellar Lumens (XLM) Spotted with Potential of 195% Price Upsurge –Popular Analyst crytocure 0 55 05-02-2020, 08:16 AM
Last Post: crytocure
  XLM Starts the Week with a Bang; Will it Touch $0.66 Today? crytocure 0 53 03-02-2020, 12:30 PM
Last Post: crytocure
  Stellar Lumens (XLM) Price Prediction and Analysis in February 2020 crytocure 0 91 29-01-2020, 02:59 PM
Last Post: crytocure
  Stellar Trades Moderately Bullish with a Volatile Touch crytocure 0 71 29-01-2020, 10:59 AM
Last Post: crytocure
  Stellar’s Uptrend Sees a Short Term Price Plunge crytocure 0 79 27-01-2020, 01:12 PM
Last Post: crytocure
  Stellar (XLM) Price Marks Steep Fall Over the Last 24 Hours crytocure 0 64 24-01-2020, 01:36 PM
Last Post: crytocure

Users browsing this thread: 1 Guest(s)