XLM coin price is at a make it or break it position. However, the successful retest of the $0.32 zone indicates a jump to the $0.50 mark.
Stellar is an open network that allows money movement and storage. Stellar’s uniqueness is that every transaction costs only 0.00001 XLM. It allows users to keep more of their money, as one unit costs only 34 cents at the moment of writing. Currently, the CoinMarketCap ranking of Stellar is #22, with a live market cap of $8.23 Billion.
Let us now look at the detailed analysis of Stellar cryptocurrency.
Past Performance of XLM
XLM coin prices found demand near the $0.25 mark. Thus, resulting in a bull run of about 40% and breakout above the $0.32 mark over the next week. Moreover, the price manages to sustain above the $0.32 mark. Thus, a resultant bull run is imminent.
XLM Technical Analysis
XLM cryptocurrency is currently at $0.344 as of the writing date. Additionally, the cryptocurrency has increased by 3.61% since the candlestick opening. Thus, indicating a rise in bullish powers. However, the trading volume has decreased by approximately 30%.
As per the pivot points, the following prominent resistance levels are at $0.388 and $0.50. And, on the flip side, the support levels are at $0.32 and $0.25.
MACD and signal lines on the daily chart rise higher above the zero line. Moreover, the lines maintain a bullish alignment as the short line stays above the slow line. Additionally, the bullish histograms sustain their strength. Hence, the indicator gives a bullish signal.
The RSI indicator jumps to 55% in the daily chart. Moreover, the overall trend is still upside. Thus, the indicator projects a rise in underlying bullishness.
As per the Stellar technical analysis, the XLM crypto is ready to jump higher after retesting the $0.32 zone. However, the fall in trading volume will be a considerable obstacle, and it must be reversed for a successful bull run.
#Bullish #Trend #Reach #Mark