Stellar Price Analysis: Will XLM Retest $0.12 Level?


  • Stellar gain bullish momentum over the past week gaining 0.2%.
  • XLM’s intraday volume stands at $65,640,901.00.
  • XLM/USD pair trading below EMA(20).
  • Stellar currently trades near $0.11

20 April 2024 : 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 -1.84 percent, bringing the entire cryptocurrency market to $2,342,235,828,989. The total trading volume stands at $63,759,625,232. Bitcoin shares 53.94 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $64,178.31 level after a decline of -0.55%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -0.34 percent reaching to $3,079.05 during the previous 24 hours.
While publishing this blog, BNB traded at $562.32, following a price change of 0.52% within the same time frame. SOL the native coin of Solana is down by -1.8 and currently trading at $144.18. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% 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 $0.12 Support Level 2 $0.10
Resistance Level 3 $0.13 Support Level 3 $0.097

Stellar Performance

According to PriceAnalysis Market Index, Stellar (XLM) is trading at $0.11 with a trading volume of $65,640,901.00. However,XLM has seen a price increase of 1.47% in the last 24 hours.XLM price changes 0.2% over the week with a total market capitalization of $3,297,494,953.00 USD.

Stellar Price Analysis

XLM price analysis for 20 April 2024 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) 0.12 Sell
Exponential Moving Average (20) 0.12 Sell
Simple Moving Average (50) 0.11 Buy
Exponential Moving Average (50) 0.11 Buy

The MACD line is standing below of the signal line after a crossover. Stellar investors need to wait for any directional change over the daily chart. 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 $0.12. 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 relative Strength Index (RSI) indicates that the XLM coin is in consolidation zone, as RSI is at 42. While XLM’s Williams %R indicator is at -68.584 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The Stellar market is shown signs of being optimistic, and buyers have the potential to drive prices of the cryptocurrency higher in the next few days. The price of XLM is expected to break above its resistance level of $0.12. On the other hand, if Stellar broke out from the bullish pattern and led its way toward support level of $0.11.