Stellar XLM is one of the few cryptocurrencies currently reporting gains in the past seven days. The XLM price chart reveals that the crypto jumped several notches on the 31st of October and has been maintaining the lead since then.
Stellar XLM price trend shows a 4.35 percent increase in the price during the last 24 hours alone while the price has hit the $0.068 mark twice in the same period. The same mark serves as the current support level for the cryptocurrency.
Stellar XLM is currently on 10th among the top ten cryptocurrencies by market capitalization. While the king of cryptocurrency Bitcoin is also no match for Stellar at the moment.
Stellar XLM price movement: What to expect?
The bulls have been successful in keeping Stellar XLM over the downtrend line on the 1st of November. This is when the short-term traders are expected to pull out of where they’re currently situated, and the bears may drop the price under the moving averages.
If the price rises Stellar XLM price can hit test the $0.0887 mark, however, $0.0697 mark serves as strong resistance in that journey.
The trading pair may drop to the next support level at $0.056, below which the price may drop to $0.051. The traders may be able to hold the stop-loss on the positions at $0.051.
If the trading pair’s price moves off the support level placed at $0.056, the bulls may attempt to break through the downtrend line.
While a breakthrough above the price level at $0.070 will be positive for the trading pair, and this may take the price level to $0.088.