$ 1,178.93 0.67%
$ 36.59 4.77%
$ 0.068793 4.69%
$ 5.23 9.29%
$ 20,646.00 0.41%
$ 234.96 0.51%

Stellar Lumens price analysis: XLM recovers $0.3400, can the bulls breakthrough?

Stellar Lumens price analysis

TL;DR Breakdown

  • Stellar Lumens price analysis suggests return to $0.3600.
  • The closest support level lies at $0.3300.
  • XLM faces resistance at the $0.3400 mark.

The Stellar Lumens price analysis shows that the bulls found support after falling to the $0.3276 mark and have started a rally recovering to the $0.3388 mark within 12 hours. While the $0.3400 mark presents a resistance to the bulls, the rising bullish momentum suggests an increasing buying activity in the markets.

The broader cryptocurrency market has observed a bearish market sentiment over the last 24-hours as most major cryptocurrencies record negative price movements. Major players include AVAX and RUNE, recording a 9.32 and a 3.96 percent decline respectively.

Stellar Lumens price analysis: Buyers take over as support holds

Stellar Lumens price analysis: XLM recovers $0.3400, can the bulls breakthrough? 1
Technical indicators for XLM/USDT by Tradingview

Across the technical indicators, the MACD is currently bearish but shows a declining bearish momentum as the price returns to the $0.3400 mark. The indicator had previously climbed to the bullish territory on 19 November, where it stayed till yesterday. However, the indicator climbed back to the green region yesterday but has made another crossover today highlighting the lack of momentum towards either side. 

The EMAs are currently trading close to the mean position as the Stellar Lumens price analysis shows a stagnating price action across the mid-term charts with little net movement through November. Currently, the two EMAs are both moving horizontally as XLM oscillates around the $0.3400 mark.

The RSI is currently trading in the neutral region, hanging close to the mean position highlighting the lack of momentum on both sides of the market. The indicator trades at 46.80, showing a slight bearish bias across the short-term charts. However, the indicator is moving upwards suggesting a rise in the buying activity across the short-term charts. 

The Bollinger Bands are currently narrow as they converged around the $.3400 mark across the last 24-hours. The indicator’s bottom line at $0.3300 provides a support level for the price action, while the mean line at $0.3412 presents a resistance level to the bulls. If the bulls are able to break above, the next resistance level lies at the $0.3528 mark. 

Technical analysis for XLM/USDT

Overall, the 4-hour Stellar Lumens price analysis issues a sell signal as 14 of the 26 major technical indicators support the bears across the timeframe. On the other hand, four of the indicators support the bulls showing low buying activity in the markets. Meanwhile, the remaining eight indicators sit on the fence and do not issue any signals at press time. 

The 24-hour Stellar Lumens price analysis accentuates this sentiment and issues a sell signal with 15 of the indicators supporting the sellers against only one indicator suggesting an upwards movement. The analysis shows strong bearish dominance across the mid-term charts. At the same time, ten of the indicators do not support either side of the market and stay neutral.

What to expect from the Stellar Lumens price analysis?

Stellar Lumens price analysis: XLM recovers $0.3400, can the bulls breakthrough? 2
4-hour price chart by Tradingview

The Stellar Lumens price analysis shows that XLM has been stuck in limbo around the $0.3400 price level. Despite making attempts at breaking above the $0.3600 mark, neither side of the market has been able to initiate a rally at the level. However, as the bulls gain momentum across the short-term charts, the price may start rising again. 

Currently, traders should expect the price to observe a bullish breakthrough towards the $0.3600 mark as the short-term technical indicators suggest a bullish takeover across the markets. While the mid-term technical analyses are bearish, it is because they are yet to react to the recent price movements. Furthermore, the market sentiment is also bullish as the buyers have just defended a key support level.

Disclaimer. The information provided is not trading advice. 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.

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