Stellar Crypto Analysis: XLM Aims For a Breakout Above $0.13

  • 1 Stellar crypto price is currently trading at $0.130113 (press time) with a gain of 3.11% in the last 24 hours.
  • 2 XLM has a current market cap of $3.645 Billion.

Stellar crypto price has been on a strong uptrend in the recent trading sessions, breaking above the key resistance levels and aiming for $0.134468. The crypto is in the buyers’ control and the technical indicators highlight the bullishess. The bears have been unable to reverse the rally and have been waiting for a correction to exert their pressure. But seeing the rise, they have been closing their positions and staying away. The buyers have been building long positions and are steadily moving toward $0.134468.

Stellar crypto showed bullishness and kept holding the gains above the top. Bulls are accumulating the crypto and getting ready to break out of the supply zone in the next sessions.

The chart displays the bulls’ momentum and signals a favorable outlook on the chart. XLM crypto is expected to break out soon, and investors are watching it closely.

The XLM price action shows a strong chart structure with buyers’ dominance, and long buildup activity was noted in the past trading sessions. Similarly, bears were now becoming wary due to the vertical rally that trapped sellers in the past weeks.

Stellar’s price was in a bullish zone during the day’s trading session. The last 24-hour trading volume was 96.399 Million. This demonstrates that buyers are trying to accumulate in order to surge toward the upper price range.

Technical Analysis of Stellar Crypto Price

Source: Stellar.1D.USD by TradingView

Stellar (USD: XLM) has steadily seen its crypto price rise for the past three months, gaining 2.81%; and gained 2.97% last month. Currently, XLM crypto is trying to hold on to this level after an unexpected surge in price.

Currently, Stellar crypto (USD: XLM) is trading above the 50 and 200-day EMAs (exponential moving averages), which are supporting the price momentum.

The current value of RSI is 68.71 points. The 14 SMA is above the median line at 54.59 points which indicates that the Stellar crypto is bullish.

The MACD line at 0.001876 and the signal line at 0.000860 are above the zero line. A bullish crossover is observed in the MACD indicator which signals weakness in the momentum of the XLM crypto price.

Weekly-Time Horizon Analysis

Source: Tradingview

Stellar crypto has shown buyers’ strength on the weekly chart. Moreover, the price is above the key EMAs, which highlights the bullishness.The RSI curve is near the overbought region at 58, and a positive outlook was noted, confirming the bullishness. The MACD indicator also persisted to form green bars, and a bullish crossover was noted, which signals bullish moves.

Summary

Stellar crypto price has shown a strong bullish trend in the recent trading sessions, breaking above the key resistance levels and is aiming for $0.134468. Technicals are confirming the bullishness. However, the price may face some selling pressure near the supply zone as the MACD indicator has shown a bearish crossover. Therefore, the investors should be cautious and watch for the price action before entering or exiting the market. Stellar crypto price is expected to continue its upward journey if it can sustain the momentum and break the psychological barrier of $0.13.

Technical Levels

Support Levels: $0.110863.

Resistance Levels: $0.134468.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.