Stellar price analysis: Is XLM going above $0.082 again?

Stellar price had the market running sideways till September 17. The bulls had been lying dormant all this time. Then they decided to stake it all in.

Following September 18, XLM saw the price rising at a constant pace while breaking all resistances including the one at $0.065. AT UTC 14:30, Stellar XLM saw a massive price surge taking It above the 0.07 dollars resistance. It landed on 0.19477 dollars, which amounts to more than thirty percent (30%) price increment. Afterward, XLM fell low to 0.0773 dollars.

Stellar price chart by TradingView

Before closing time on September 18, the volume still kept increasing with the price moving to 0.08849 dollars and then escalating back to 0.073891. The price has since then been stabilizing above the 0.073 dollars mark.

At the time of writing, Stellar trades at 0.07866 dollars. The twenty-four (24) hour trade volume for XLM sums up to four hundred and ninety-three million dollars ($493,975,888) while the market cap for one billion dollars ($1,536,514,522).

Stellar price staying above $0.0750

The current trade might make it possible for Stellar XLM to break above the 0.0800 dollars resistance mark again. After that, the 0.0850 dollars mark will offer resistance and try to stop the bulls from reaching the major resistance mark. The next major resistance will be faced by the bulls at 0.100 dollars. XLM has once breached through this mark and retesting 0.100 dollars would not be difficult.

Stellar price chart by TradingView

Support marks are ready for the bears if they make a move. The first support mark that XLM will encounter is at 0.0752 dollars. The bulls need to make this one count and not let the bears drag XLM down for the next support mark lies in the at 0.0713 dollars.

The third support mark lies in the 0.06 dollars territory at 0.0658 dollars. If this support holds, then the bulls have a fighting chance because the relative strength index (RSI) runs bullish in the short term. In the long term, the RSI is in the oversold territory. we expect XLM to perform good n the short term.