- The XLM price show could be in line for a significant boost, as it remains bullish with high volume and strength.
- XLM trades at support. This price aims to maintain its trend as long as it remains above 8 or 20-day EMA.
- As the price of XLM breaks out from an ascending triangle, more buy orders will lead to a rally towards $0.14.
With a pivotal breakout of a range-bound move against USDT (USDT), the Stellar price (XLM) continues to demonstrate its strength. The crypto market cap rebounded from its weekly low, as market prospects continued to be promising. Stellar’s price (XLM), however, was not ignored as it broke out of the long-range with price trending higher with an eye on a $0.14 target. Data from Binance
Stellar (XLM), Weekly Chart Price Analysis
Most crypto altcoins had hoped for relief in the crypto market. Although most altcoins experienced a price rise in recent crypto assets, they have been range bound.
XLM is a project that shows great signs of a rebound but continues to stall in price. Its price ranges as it aims to rally to a peak of $0.14.
The price of XLM fell to $0.1 per week. However, XLM’s strength held off a price drop to $0.13.
Weekly resistance for the price of XLM – $0.14.
Weekly support for the price of XLM – $0.1.
Chart Price Analysis of XLM on The Daily (1D).
On a daily timeframe, the price XLM continued to gain strength, despite appearing to have stalled in price movements; it hit a daily lowest of $0.1 and then rallied to a peak of $0.13. It was later rejected into an ascending triangle after it failed to break out of the downward trend.
The price movement of XLM signals further bullish tendencies to a high at $0.14, and possibly a rally to $0.16. A positive sign of price growth is XLM’s 8-day Exponential Moving Average (20EMA) price.
Prices at $0.12 and $0.11 are the equivalent of the 20-day EMA values.
XLM’s price has a support level at 8, and 20 EMA, a break below this level would mean a retest of $1 or even lower.
Relative Strength Index for XLM (RSI), shows an increase in buy orders when the daily value exceeds 50.
Daily resistance for the XLM price – $0.14.
Daily support for the XLM price – $0.1.
Featured Image from Cryptoholics. Charts from Tradingview.