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XLM News

XLM News

Stellar Price Analysis: XLM Initiates Recovery; Eyeing for $0.050

Stellar (XLM) News

Stellar Lumens is under the bullish influence as its price improved to $0.0495 within the 8 hours. The same price level is likely to hang for the rest of the day. The daily SMAs are providing support to the current price. 

The movement of the XLM coin is also indicating that the downtrend wouldn’t be spotted soon. Intraday trading is likely to bring a considerable return to investors. 

XLM/USD Price Chart: 

Stellar (XLM) Price News

Yesterday, Stellar price spotted at $0.0476 in the first hour, and within the next 4 hours, the price escalated to $0.0487 by 1.81% hike. Then, the currency started trading downwards and touched $0.0476 over the next 8 hours. Later, the XLM coin managed to lock its price at the same level till 16:00 UTC. After that, at 18:33 UTC, the price spotted at $0.0479. The closing hours brought pullback pressure, which took Stellar price to $0.0455 by 4.44% fall. The day-long movement reflected 4.72% regression.

Today, the XLM coin started with a moderate upside momentum, and at 06:40 UTC, the price touched at $0.0462 by 2.69% hike. Later, the price improved tremendously over the next couple of hours. Stellar price moved from $0.0462 to $0.0495 by a 7.08% hike; however, in the later hours, the coin faced a slight fall, and the price dropped to $0.0485 at the time of writing. 

The short-term daily MAs, 50 and 20, are at $0.0483 and $0.0482 and are trending below the current price. The placement of MAs reflects the bearish crossover. The MACD counters are indicating bullish crossover as the MACD line is overlapping the signal line. As per the technical indicators, the price of Stellar Lumens might consolidate around a similar price level. It has already breached the immediate resistance level at $0.0480.

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      Market Capitalization        2 045 562 162 USD -5.41%
      Volume 24hrs       458 607 829 USD 173.75%
      ATH       0.938144 USD -89.38%
      Max Supply       0.099603 USD -5.42%

Technical Analysis

Stellar is a secure platform that is designed to offer access to an open and affordable financial system, which makes it easier for users to attain financial independence. It offers a practical solution to critical global issues. Stellar has its cryptocurrency called Lumens, and there are lots of financial institutions that are supporting the Stellar network.

It is important to note here that Stellar refers to the network and platform that makes peer to peer transactions possible. Lumens, on the other hand, is a native currency of the Stellar network. The price of lumens may increase with the adoption of the network.

Stellar (XLM) is showing a strong bullish trend. The past few days have shown a bullish momentum and trading around $0.0700 level. Traders are now considering trading only long positions as long as the price remains above $0.070. The next resistance is located at $0.090. After this resistance, buyers can target $0.18. With the pattern that is currently showing, investors will need to monitor for possible bullish excesses that can lead to a small correction in a short duration. These corrections offer traders opportunities to get in the direction of the bullish trend.

For the very short-term, the bullish statement is confirmed by technical indicators. However, there would be a small bearish correction in excessive bullish movements.


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