Stellar Price Analysis: Will XLM again Showcase its Potential?


  • XLM/USD is confronted with resistance level of R1 at 0.12 dollars.
  • Current Stellar Price is 0.12 dollars
  • Stellar(XLM) records downward movement today.
  • Support for the bears has been established at $0.11

03 October 2022 : In this article we will walk you through Stellar price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Stellar, Is XLM a good investment? Stellar support & resistance levels etc. But before diving deep into the XLM technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $936,641,496,110. The total trading volume stands at $53,445,285,048. Bitcoin shares 39.68 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,387.90 level after an upward movement of 0.98%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.66 percent reaching to $1,318.93 during the previous 24 hours.
While publishing this blog, BNB traded at $287.28, following a price change of 1.46% within the same time frame. XRP the native coin of XRP is down by -1.95 and currently trading at $0.45. Additionally, Cardano reached $0.42 after seeing a uplift of 0.01% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Stellar Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Stellar (XLM)

XLM Resistance Levels XLM Support Levels
Resistance Level 1 $0.12 Support Level 1 $0.11
Resistance Level 2 $0.13 Support Level 2 $0.099
Resistance Level 3 $0.14 Support Level 3 $0.092

Stellar Performance

The price of Stellar (XLM) is at $0.12, down -4.67% in the past 24-hours and has a price change of 2.19% over the week. One day trading volume for BTC is 171,189,965.00 USD while total marketcap reached $2,952,625,829.00 USD. There are almost 25,482,012,372 are in circulation out of 50001787570.

Stellar Price Analysis

XLM price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Stellar.

Moving Averages Price Indicator
Simple Moving Average (10) 0.12 Sell
Exponential Moving Average (10) 0.12 Sell
Simple Moving Average (20) 0.11 Buy
Exponential Moving Average (20) 0.11 Buy
Simple Moving Average (50) 0.11 Buy
Exponential Moving Average (50) 0.11 Buy

While XLM’s Williams %R indicator is at -40.339 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The immediate resistance for XLM is found at $0.12, and a breakout from this level could leads towards the next resistance, which can be found at $0.13. On the other hand, if the bear take control and XLM price fails to break out above $0.12, it could fall back towards the crucial support at $0.11. The MACD line is standing above of the signal line after a positive crossover. Stellar investors need to wait for any directional change over the daily chart. The Relative strength index (RSI) for XLM Coin is currently hovering at 62 for 14-days average line, which means XLM is moving towards overbought zone.

Conclusions

According to the Stellar (XLM) price analysis, the bears have failed to take the market downwards, and as a result, we are likely to see the continuation of the bullish trend in the coming days.