Stellar Lumens price prediction is recovering from the daily opening level of $0.112 and the price started to increase.
Overcoming obstacles: Stellar Luminosity (XLM) price encounters challenges at $0.1150
After a sustained uptrend, Stellar Luminosity faced rejection near $0.1365 against the US Dollar. This caused the XLM/USD pair to decline below the $0.1200 support and test the $0.1150 area. If the pair succeeds in breaking above the $0.1200 resistance zone, it is likely to rise.
Stellar Forecast Statistics:
Stellar Price Now - $0.113
Stellar Market Cap – $3.2 billion
Stellar Circulating Supply - 28.9 Billion
Total Stellar Supply - 50 billion
Stellar Coinmarketcap Ranking – 32nd
XLM/USD Market
Key Levels:
Resistance Levels: $0.150, $0.160, $0.170
Support Levels: $0.075, $0.065, $0.055
XLMUSD - daily chart
After hitting the daily high of $0.114 resistance level, XLM/USD has the potential to cross the 9-day and 21-day moving averages. At the time of writing, Stellar is trading at $0.113 and has risen above 0.99% since the start of the European trading session. However, with the latest recovery, the coin may head towards the upper boundary of the channel, adding bullish momentum.
Stellar Price Prediction: Can XLM Break Above $0.120?
Stellar price remains between the 9-day and 21-day moving averages at $0.113. However, if the buyers start an uptrend, XLM/USD might hit the $0.150, $0.160, and $0.170 resistance levels to push the price higher. In other words, if there is strong selling pressure from sellers below the 9-day moving average, the price might drag lower towards the lower border of the channel if the bears re-enter the market.
However, if Stellar trades below the moving averages, it could spark a continuation of the bearish trend, dragging the price down to the $0.075, $0.065, and $0.055 support levels. At the same time, the technical indicator Relative Strength Index (14) could cross above 70, indicating a possible bullish run.
XLM/BTC could move north
Stellar price is heading north against Bitcoin as the coin has risen above the 9-day moving average. However, based on recent positive signs, the current market action could start following an uptrend if buyers push the price above the upper border of the channel.
Furthermore, once buyers increase their bullish pressure, the market price might try to trade above the resistance level of 215 SAT. Meanwhile, if there is a retest of the 9-day moving average, the price might drop below the support level of 140 SAT.
However, @WHALES_CRYPTOx shared insights with his followers on X (formerly Twitter) about XLM’s cup and handle pattern being completed, which suggests an impending breakout. Get ready for potential price action as the market prepares for XLM’s move!
#xlm
/usdt
The cup handle is almost done♀️
The outbreak is imminent ✈️
Join Telegram
https://t.co/caOlZBzS3k
pic.twitter.com/MipyVtud7p
– Whales_Crypto_Trading (@WHALES_CRYPTOx)
April 20, 2024
Stellar Alternatives
Stellar price remains stable within a specific range, indicating potential buyer momentum towards the $0.115 resistance level. Confidence in the recovery phase is crucial, with a target of $0.120. Meanwhile, with a market cap of $3.2 billion, Stellar (XLM) is known for its stability. In contrast, the presale phase of Dogeverse has already accumulated more than $8.3 million, providing investors with continuous returns and growth potential.
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