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Stellar Price Analysis: XLM Price Eyeing Fresh High

The crypto market is recovering from yesterday’s bearish phase. At the time of writing, XLM is the leading in terms of growth with more than a 5.53% rise. whereas Crypto.com Coin is the biggest loser with more than 6% loss.

Stellar, which was silent during the Bitcoin bull season has increased surprisingly today. According to Coinmarketcap data, the XLM coin holding 11th position is currently trading at $0.073351 USD. In terms of XLM/BTC, there is 6.56% growth trading at 0.00000827 BTC.

The XLM coin is currently holding a market cap value of $1,490,450,148 USD with $758,506,151 USD  24hr- volume and 20,319,427,017 XLM circulating supply.

Looking at the overall market conditions, XLM might be able to cross the price level as the majority of the crypto assets are also taking the road for price recovery.

Also, read Do you Hold Stellar(XLM)? Read this Stellar Price Prediction

Stellar Technical Analysis

The Stellar Lumens Price charts reflect on the steady bullish movement of XLM which is followed by the marginal decline which is the result of attempting to cross a $0.53 area. 

We can also observe that the current price is on the support line which favors XLM bulls. Any downfall below $0.065 can result in a major downfall for the altcoin.

The MACD levels are prevailing in bullish zones which indicates the altcoin will be able to sustain the price level and should avoid any further downfall

The RSI is reaching a bullish level of 70 which is a positive indication for XLM bulls.

The CCI is showing negative divergence from the overbought region to the positive region but the significant buying volume forced the levels to again reach the overbought region. 

Resistance Levels: $0.070

Support Levels: $0.065 and $0.062

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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