- Stellar price rebounded after a sharp selloff of -20% and again started heading towards the 52-week high of $0.7780
- The coin is trading above all vital moving averages (MA) of 20, 50, 100, and 200-day, while 20-DMA acting as short term support
- The pair of XLM/BTC is trading positively with an intraday jump of +12.05%, standing at 0.00001385 BTC and XLM/ETH CMP at 0.0001806 ETH with a gain of +15.40%
Stellar price over the monthly chart is trading on a bullish note while making higher highs and low patterns. Similarly, the coin is continuously trading above all major moving averages of 20, 50, 100, and 200-day. While 50 and 100-DMA are acting as good zone or support levels, a good buying interest is seen. However, normal or average volume traction is witnessed by XLM, which needs to improve. Support on the lower side is at $0.5510 and $0.4690; likewise, resistance on the higher side is $0.7780 and $0.8250.
Meanwhile, the overall long or medium-term trend is still in favor of bulls if XML sustains above 50 and 100-DMA. However, if the coin holds 20-SAM, then we can see a new all-time high soon.
XLM Trying to Pullback Over Weekly Chart
Stellar price over the weekly chart is recovering sharply from lower levels and with all technical parameters are in favor of bullish momentum. Since, after a sharp selloff, XLM is now heading towards the 52-week high of $0.7780. The coin is trading at $0.6890 with intraday gains of +12.63%, and volume also jumped over +16.56% standing at $3,632,273,512. Support for the short term is at $0.6200 and $0.5700, while resistance at $0.7200 and $0.7780.
Relative Strength Index (BULLISH) indicates bullish momentum while trading at 58.62. However, after a sharp selloff, XLM is looking bullish and creating strong positive momentum.
Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart. It is about to give a positive crossover with the significance of the buyer’s signal line (green) over the seller’s line (red).
Support levels: $0.5510 and $0.4690
Resistance levels: $0.7780 and $0.8250
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