July 20, 2024


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Stellar (XLM) Still Contemplating To Join The Green Part, Will Price Give In?

2 min read
  • XLM price shows could be ready for a major boost as the price remains bullish with good volume and strength.
  • XLM trades above support as the price aims to continue its trend movement as the price keeps holding above 8 and 20-day EMA.
  • The price of XLM eyes a rally to $0.14 as the price breaks out of an ascending triangle with more buy orders. 

The price of Stellar (XLM) has continued to show its strength as price trends with a key breakout from a range-bound movement against tether (USDT). With the crypto market cap bouncing from its weekly low as the market continued to look promising, the price of Stellar (XLM) was not left out as the price broke out of its long-range, with price trending to a higher height with eyes set for a possible $0.14 target. (Data from Binance)

Stellar (XLM) Price Analysis On The Weekly Chart

The crypto market received the relief, as most crypto altcoins expected. However, despite the recent price surge in most crypto assets, some altcoins have remained range-bound.

One project that has shown great signs of a recovery bounce but keeps stalling in price is XLM as the price continues to range as it aims a rally to a height of $0.14.

The price of XLM saw its price rejected to a weekly low of $0.1, with XLM showing so much strength holding off price sell-off as the price bounced to a region of $0.13.  

Weekly resistance for the price of XLM – $0.14.

Weekly support for the price of XLM – $0.1.

Price Analysis Of XLM On The Daily (1D) Chart

Daily XLM Price Chart | Source: XLMUSDT On Tradingview.com

On the daily timeframe, the price of XLM continues to show strength as it pulls some gains despite the market appearing to have stalled in price movement; after hitting a daily low of $0.1, the price of XLM rallied to a high of $0.13 before being rejected into an ascending triangle as it struggled to break out with price breaking out and looking more bullish for a rally.

The price of XLM breaking out signals more bullish trends to a high of $0.14 and a possible rally to $0.16. The price of XLM holding 8 and 20-day Exponential Moving Average (EMA) is a good sign for price growth. 

The prices at $0.12 and $0.11 correspond to the 8 and 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.

The Relative Strength Index (RSI) for XLM shows increasing buy orders as the value is above the 50 mark area daily.

Daily resistance for the XLM price – $0.14.

Daily support for the XLM price – $0.1.

Featured Image From Cryptoholics, Charts From Tradingview

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