Stellar price analysis: Bulls gear up to push XLM over $0.35
3 min readTL;DR Breakdown
- Stellar price analysis reveals, price levels are slowly moving towards the bullish direction.
- The price has seen improvement till $0.35 today.
- Bulls to reach further heights if support continues to be $0.34.
The charts showing Stellar price analysis is going bullish today while facing certain resistance from the bears as well. The momentum is great as the price has successfully surpassed the $0.35 hurdle in the last few days.
Although, the past few hours have been critical as the bearish momentum has been very strong, today the bulls are trying hard to lift the price level as per Stellar price analysis.
XLM/USD 1-day price chart: Bulls making sluggish recovery, onto climbing past $0.353
The 1-day price chart showing cryptocurrency values has seen a slight recovery above the $0.35 resistance today. In the last few days, bearish momentum has caused a huge impact on the price value, as the momentum has been very intense.
Today, the price levels are recovering to their former height at a slow pace, and there are some chances that they will reach the moving average (MA) level at $0.36.
The volatility is slowly decreasing which is encouraging for cryptocurrency, while the Bollinger band average has reached $0.35 of level. The Bollinger bands are also showing the values of the upper band and lower band which are $0.41 and $0.28, respectively. The Relative Strength Index (RSI) score is increasing as well and is showing the score at 55.23.
Stellar price analysis: Slow yet steady climb on move towards achieving a new high
The 4-hours Stellar price analysis is indicating a considerable rise in the price after a continuous bearish slope. The price has increased up to $0.35 which is a noteworthy improvement since the past hours.
The moving average is at $0.36, just above the price level, while the Bollinger band average is present at the $0.37 mark. The volatility is gradually increasing as the Bollinger bands are expanding, which indicates that the bears can still strike back.
As the momentum is building up, so the upper Bollinger band has climbed up to reach $0.39 value while the lower band has stooped to $0.35 value. In the 4-hours XLM/USD chart, the RSI score is also progressing heavily above 40.83 and is now at a very neutral figure.
As the trend for cryptocurrency today has been bullish, the technical indicators chart is also showing a buying signal for the Stellar coin. There are 26 indicators collectively, out of which 11 are standing at the buying position, five at the selling, and 10 at the neutral position.
The Moving Averages indicator is also showing similar results, and the meter is showing a positive sign for the buyers. There are 10 indicators on the buying signal, four on the selling signal, and only one indicator is found at the neutral position.
The Oscillators are relatively neutral as the market has observed tough competition for the past few days, and there are nine indicators that are showing us a neutral trend, while one indicator each is present on the selling and buying positions, respectively.
Stellar price analysis conclusion
From the above 4-hours and 1-day Stellar price analysis, it can be confirmed that the market is more welcoming for the buyers. There are more buyers expected to proceed with their deals, and taking the price above $0.35 as a result of more selling records.
The resistance present at $0.39 can only be surpassed in the next month if the bullish momentum grows steady and hits new highs every week. Moreover, bears are assumed to crossover the bullish curve, if there is no pressure from the buyers.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
