- Support levels have reached $0.31, Stellar price analysis confirms.
- XLM/USD charts have observed commendable improvement in price.
- Price has jumped suddenly to $0.36 of value.
The Stellar price analysis is showing progressive movement, as the price levels have regained momentum reaching the $0.355 level. The past week experienced a considerable amount of decline in the coin value, taking it below $0.34. Yet, the latest updates show appreciable results as the bullish momentum is intensifying each hour.
XLM/USD 1-day price chart: bullish momentum bounces back after descend
The 1-day candlestick chart is depicting a considerable rise in price, today. Two days back, the trend has been quite the opposite as red candlesticks were dominating the charts, bringing the value down further. Yet, today’s momentum has been huge and may touch the Moving Average (MA) value i.e. $0.36 in the upcoming days. Other values visible from the chart are the Bollinger bands average, which is standing at $0.32, at the time of writing.
As the bulls are taking on the lead, the Relative Strength Index (RSI) score is also showing progress and has increased up to 60.71. Meanwhile, the volatility is going in the favor of the bulls, with the upper Bollinger showing $0.4 and the lower Bollinger showing $0.24 values respectively.
Stellar price analysis: Bulls get an aggressive win at $0.36, after continual repulsion
The 4-hours price chart is showing note-worthy progress after the bears continued ruling for the past hours. Surprisingly, the price levels climbed up to $0.36 and are continuing to retrieve their former control. The trending line is also moving upwards, and the Bollinger bands average is displaying the value of $0.37. The upper Bollinger band is present at $0.39 while the lower Bollinger band is at $0.32.
The RSI score is also going up and is currently at the score of 50.5. The Bullish momentum has been so great that the price levels have moved past the moving average i.e. $0.35 level.
The XLM/USD technical indicators chart is also confirming the bullish trends predicted from the 1-day and 4-hours price analyses above. The summary is showing a slight inclination towards the buyers, with 16 indicators at the buying position, nine at the neutral, and the remaining one at the selling position. As per Stellar price analysis, the Moving Averages indicators are also indicating strong support for the bulls, with 13 indicators at the buying position, one at the neutral, and one at the selling position.
The oscillators are also showing similar results, with eight oscillators on the neutral side, three on the buying side, and none on the selling side, in today’s report. There is a high possibility that the buying momentum will increase, and the scale will show even high amounts of buyers interacting with the market.
Stellar price analysis conclusion
The above Stellar price analysis is informing us about the current status of cryptocurrency, which is extremely supportive towards the buyers. More and more buyers are approaching the market, and taking the price levels higher than $0.35.
If the support level continues to help the price climb up and remains the same $0.32, then there is a vivid chance of bulls breaking through as per Stellar price analysis. The resistance level at $0.34 can be overcome if a massive victory comes in hand for the cryptocurrency.
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