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Stellar price analysis: XLM bulls want to make a change

Stellar price analysis XLM bulls want to make a change

Stellar price is keeping up with the initial trend that it assumed after July 15. The downwards pattern was disrupted on the days following September 16 but then the price started resuming its original trajectory. It isn’t the bears creating the waves this time.

We have a falling channel and Stellar price trades at 0.06185 dollars while the market capital for Stellar Lumens is valued at one billion dollars ($1,217,126,449). The twenty-four (24) hour trading volume that this cryptocurrency has amassed sums up to be two hundred and twenty-three million dollars ($232,072,879).

Stellar price analysis: XLM bulls want to make a change 1

Stellar price chart by TradingView

Stellar price is surfing bullish waves

Stellar can see a massive pump in its price tag with t the bulls being successful in their ordeal to push XLM past the twenty (20) day exponential moving average (EMA). Once that marker is out of the way, we have fifty (50) day simple moving average (SMA). The relative strength index has been a great ally in this bullish uptrend with the positive divergence that it now portrays, The RSI is still below the fifty (50) mark but is trying to get near it.

If the fifty (50) day simple moving average (SMA) can’t find a way to hold the bulls then that would surely be great news for XLM. Pushing past this marker will take the price to 0.0088709 dollars range but the price will have to overcome a minor resistance marker at 0.072545 dollars first.

Stellar price analysis: XLM bulls want to make a change 2

Stellar price chart by TradingView

The best bet for traders right now is to consolidate the price above the fifty (50) day SMA.  Aggressive traders can buy above the 50-day SMA and keep a stop loss of $0.051.

On the flip side, if the twenty (20) day EMA or the fifty (50) day SMA turn the bulls down then they won’t have much of a choice but to give in and we’ll have XLM don to 0.051014 dollars with new lows pouring in by the numbers.

 

 

Ahmad Asghar

Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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