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Price Prediction

Stellar Price Analysis: Will XLM Price Touch $0.09 Soon?

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  • The price of XLM is trading at $0.083.
  • The XLM price increased by +3.86% in the last 24 hours.
  • The XLM year-to-date return is +17.50%.

Weekly Trend Analyzation

This week the trend was bullish as the price was up by 1.12%. By trend and price information history, we can say that XLM is performing well as observed. 

All-Time History Analyzation

The coin’s value surged by more than 2700% in all-time history, giving good returns to the investors’ money. 

In 1-D Timeframe

Stellar Price Analysis
Source:  XLM/USD.1D.COINBASE by TradingView

Trendline Analyzation

As per the trendline, it respected and faced rejection  exactly from the drawn trendline on the chart. It’s been bearish from the point where it was rejected from the trendline. But recently, it formed a commonly seen bullish pattern known as descending wedge. In this pattern, the price gives an upward breakout. So, as price action speaks, it already took support on the trendline. Soon, it might give a breakout in a couple of days. After that, it will face correction and then another possible breakout can occur in the long term. It can reach $0.09 soon which is the nearest major resistance.  

Supertrend

With the help of just two parameters: period and multiplier, this indicator works well. At period value 20 and multiplier value 2, it shows the continuous trend; if it’s bullish or bearish. As shown in the chart, it was bearish earlier, but recently the price took proper support from the support zone and showed considerable interest in buyers. Now, the super trend might turn bullish soon.

RSI

The 14 SMA has a value of 36.87 points and the RSI line is around 48.09. The RSI line is indicating a possible upward move shortly.

MACD

As we can see in the chart, the blue line or MACD line crossed the signal line from below while making a bullish crossover. This indicates a bullish trend signal. On the day of writing, the MACD line and the signal line are on the positive side of the MACD indicator. This highlights that the trend may continue upward.

EMA 

The price is going up on the 1D chart. It is above 10 & 20 EMA (exponential moving average), which gives quite an idea that buyers are ready to buy stock at every price which is a good sign as well.

Bollinger Band

In the Bollinger Band indicator, Ethereum Classic coin price is trading at the upper band. After taking support from the 20-day Simple Moving Average (SMA) of the Bollinger Bands, it is indicating a more upward move.

xlm price analysis
Source: XLM/USD.1D.COINBASE by TradingView

Volume Analyzation

The amount of XLM coin traded in a day is $50423462. It rose by 65.72% since the past day. The trading activity is comparatively good in  Stellar (XLM) now because the market is favorable and the presence of buyers for the coin increased significantly as well. Therefore, it can push the price up due to the considerable volume present in the market.

Conclusion

The Stellar (XLM) coin price as per the price action is bullish. Currently, the technical parameters indicate bullish pressure in the upcoming trading days. Presently, the sentiments of investors and traders are bullish.

Technical Levels:

  • The Nearest Support Zone is $0.074.
  • The Nearest Resistance Zone is $0.097.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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