- Stellar price analysis is bullish today.
- Support is present at $0.316.
- Resistance is found at $0.379.
Stellar price analysis reveals price function is going bullish today. Yesterday a steep spike in price was observed when XLM/USD bounced from $0.318 to $0.358. Today again, bulls are carrying their lead further as XLM/USD pair is trading hands at $0.361 at the time of writing.
Overall XLM/USD pair gained more than 14 percent value over the last 24 hours and is up by 29 percent over the last week. The trading volume also has increased by 133 percent over the last 24 hours.
XLM/USD 1-day price chart: Bulls take the price further high
The 1-day price chart for Stellar price analysis shows an increase in price as bulls are still in dominating position. The market sentiment is positive towards XLM/USD pair, but some sort of selling pressure also exists at the current price level as at one instance today, the price went significantly down but was soon rescued by XLM bulls.
The Volatility is increasing again as Stellar has been showing a volatile character for the past few days. The Bollinger bands started expanding from 5th October, providing more opportunities for price function to expand its wings. Despite the Bollinger bands expansion, the price is going past the upper limit of the indicator, marking strong bullish indications.
The relative strength index (RSI) is near the overbought limit but still in the neutral zone at the 64 index. Currently, the indicator shows a good level of buying activity, but if compared with the hourly chart RSI, then it may dip soon, indicating a selling sign.
The MACD oscillator indicator shows strong bullish signs, as well as the color of the histogram is dark green, and the size of bars is increasing with time. The indicator has been bullish since 1st October, after the 2nd day when the price started upwards trend.
Stellar price analysis: Recent developments and further technical indications
The 4-hour price chart for Stellar price analysis further reconfirms the ongoing bullish momentum as the price continues to go towards further heights. Bulls have successfully formed a short-term upwards trending price line. A robust buying activity seems to be going on at the time of writing as the price is going past the $0.361 level.
The relative strength index (RSI) is already in the overbought zone at 79 index, still on the upwards curve showing intense buying in the market, but now it seems time for the RSI to go back in the neutral zone, indicating a sell signal.
The moving averages (MA) are also bullish as the short-term, and the mid-term moving averages MA10, MA20, and MA30 show buying signals, and the exponential moving averages EMA10, EMA20, and EMA30, also favor the buying of XLM/USD assets. Among the oscillators, the Momentum oscillator also favors the buying option, but another important oscillator of power stands neutral.
Stellar price analysis: Conclusion
The Stellar price analysis suggests the short-term and the mid-term indications all support the price to go further high, but as the RSI is currently in the overbought zone on the hourly basis and bull-bear power is neutral, which shows bulls can get exhausted any time soon, and XLM might observe a correction in the coming 24 hours, cautious trading is advised at this point of time.
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.