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XLM bulls break the major mark of $0.080 with an upsurge of 5 %
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Stellar (XLM) Price Analysis: XLM bulls break the major mark of $0.080 with an upsurge of 5 %

  • Stellar find 3 months high by breaking the major resistance of $0.080 
  • There has been a 61% price increase for the altcoin this year. 

The 13th largest cryptocurrency in the world has seen a 61% price explosion this year. It started with the price of $0.045 and broke a $0.08 mark today which means that the price of XLM is doubled up in just a span of two months. 

Currently, the price is around $0.081194 with the market capitalization of $1,630,274,999 and the 24H volume traded of $889,517,807. It is expected that if XLM bulls showcase their potential, it might have a new support level of $0.08. 

[Image: XLM-1.png]

Source: Tradingview

The parabolic curve in the graph defines the significant momentum XLM had this year. The volume traded was for the altcoin has also witnessed a significant increase. The volume traded at the starting of the year was around $911,500,592 and currently is around $1,607,097,050! 

The RSI is reaching a level of 80 which indicates that it might have reached its critical resistance area. CCI also remains in the overbought territory but a negative divergence from here can favor XLM bulls. MACD levels show that there is strong buying momentum going for stellar and will continue its bullish run for a while. 

We can say that XLM is trading within a neutral condition, however, if it manages to break the resistance of $0.083 then it could promise traders a long-term bullish run. 

Alternatively, if the sellers manage to push the price beneath $0.08, it will find support at $0.078. But any further decline below the given support level can result in major pricing pullback. 

by Vasu Singhal

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