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Stellar Price Analysis: XLM Crypto Observes A Correction In The Daily Time Frame

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Stellar Price Analysis: XLM Crypto Observes A Correction In The Daily Time Frame
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  • XLM coin price is currently observing a strong correction in the daily chart which can lead it to a new low. It has seen a gain of more than 2% in the daily time frame.
  • Stellar price technical indicators hint towards a strong upside momentum. Meanwhile, the XLM/BTC pair is also down by more than 1.38% in the intraday session

XLM crypto price is currently seeing a strong correction in the daily chart but can soon revert to the uptrend in the future. Stellar price is currently trading near the value of $0.378 and has seen a gain of more than 2% in the past 24 hours. Stellar price upside trend may face a hostility near $0.5 The bounceback region of the asset can be seen near $0.35.  XLM coin price is currently trading above the 50 and 100 Daily Moving Average but can observe a negative crossover in the moving average. The 100 DMA  for the coin is near $0.3333, making it a temporary support zone for the coin. There can be a strong downside momentum in price in the future. The XLM/BTC pair can also see a strong upside trend in future. One can invest in Stellar as per their needs and risk adversity.

XLM coin market dominance along with market cap is seeing a bullish recovery which can push the price to a new high. The volume of the coin is also seeing a surge which can push the price. Stellar token  volume to market cap ratio suggests a strong upside momentum to the future

XLM Crypto Price May Soon See A Rally For A New High

Source: Trading view

Stellar coin price weekly technical chart suggests a strong consolidated momentum for the future  It has observed a gain of 2% in the intraday time frame.. The daily chart of XLM coin price hints towards a strong bull rally in price. There is the formation of a strong supply zone in the daily chart of the coin. If the price of the asset dumps 15 to 20% below this level then a strong rally for a downtrend can be seen. The XLM/BTC pair can also see a strong rally in future

Conclusion

XLM coin price is currently seeing a strong consolidation but can soon revert to the uptrend. The XLM/BTC pair can also see a new high in future

Technical Levels

Major Resistance:$0.5

Major Support:$0.2

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R
Written by
Rajat AryaVerified

Rajat is an MBA graduate specialized in finance who is a motivated self-starter, highly organized, and holds a good flair for understanding financial markets. His interest in economics and finance draws his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. His primary focus is on cryptocurrency price analysis and industry news coverage.

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About this article

PublishedOctober 26, 2021 3:50 pm
Last updatedJanuary 16, 2025 12:42 am
Written byRajat Arya
ReviewedFact-checked by the TMP editorial desk

This report follows our Editorial Policy, Fact-Checking Standards and Code of Ethics. Found an inaccuracy? See Corrections.

Disclaimer. Informational only, not financial advice. Crypto, forex and stocks are volatile, high-risk assets — always do your own research and consult a qualified adviser.

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