Stellar (XLM) Price Analysis: XLM/USD Is Setting Steps For Price Recovery

  • The altcoin faces multi-hurdles between $ 0.070 and $ 0.075
  • It needs to rise above $ 0.735 or $ 0.0750 to build bullish momentum in the market.

Stellar's recent drop in price from $ 0.078 to $ 0.071 has raised concerns that the upward momentum for the old coin is over.

The failed attempt to cross the $ 0.080 main mark cost a significant downtrend star lumen brought the price to the support level of $ 0.0680. Recently, XLM bulls showed signs of existence by crossing the $ 0.070 mark a few days ago.

However, it is currently in a downward trend again, with a loss of -1.87%. The current price is $ 0.071 with a market capitalization of $ 1,436,334,696 and a 24-hour volume of $ 453,051,923.

Stellar Lumens is also planning a mass launch in the United States crypto market by working with the United States to spread knowledge of blockchain across the United States.

Source: Twitter

Source: Tradingview.com

The technical charts reflect the steady upward movement of XLM This is followed by the sudden drop due to an attempt to exceed the $ 0.80 range. We can also see that the current price is on the support line that prefers XLM bulls. Any drop below $ 0.0680 can result in a significant drop in crypto assets.

The RSI reaches the level of 50, which is a positive indication for XLM bulls, CCI now also had a negative deviation from the overbought region to the positive region. Overall, the technical indicators for a bullish move speak from here.

Resistance levels: $ 0.0735 and $ 0.0800

Support levels: $ 0.0680 and $ 0.0650





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