Stellar Lumens Price Prediction: XLM Made a Short-Term Double Top
A look at the Weekly logarithmic chart for XLM shows that the price is currently trading above the between the resistance and support areas at $0.16 and $0.06 respectively.
Furthermore, it has found support above the 200-period moving average but is trading below the 21 and 50-period which have made a bearish cross, facing very close resistance from the 21-period one.
The price is also trading below the negative Ichimoku cloud.
It has made four bullish weekly candles in a row
The MACD has made a bullish cross and is moving upward, but is not positive yet.
The RSI is at 41, indicating neither overbought nor oversold conditions.
A look at the 3-day chart shows that the price increase was preceded by bullish divergence in both the RSI and the MACD, the latter of which is moving up with strength but is not positive yet.
The price is currently trading above the 21-period moving average, but below the 50 and 200-period ones.
A look at the Daily chart gives us a more positive outlook and our first trading structure.
We can see that the price is following an ascending support line since February 5.
Furthermore, it recently broke out of the negative Ichimoku Cloud.
Furthermore, the 21 and 50-period moving averages have made a bullish cross and are offering close support to the price.
The MACD is into positive territory and moving upward with strength.
Short-Term Outlook and Price Prediction
A look at the 6-hour chart shows that price made a double top, which was combined with a bearish divergence in the RSI.
Furthermore, the MACD is very close to making a bearish cross and has lost all of its power. There is a minor support area near $0.098.
I believe that during next week the price will fall down to the ascending support line.
- There is a medium-term bullish divergence.
- The price is following an ascending support line.
- The price has made a short-term double top combined with bearish divergence.
Latest Stellar News:
Stellar’s Lumens [XLM] & Ripple’s XRP Price Action – XLM Rises Above Ascending Triangle
Stellar [XLM] Price Prediction: The Price Is Heading Toward the February 24 High
|DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.|
Stellar Lumens Price Prediction: XLM Made a Short-Term Double Top was originally found on copy trading cryptocurrency | Blockchain News | Bitcoin News | blokt.com.