Stellar Price Prediction: XLM Broke Out From the Resistance
A look at the Weekly chart for XLM shows that the price is currently trading between the resistance and support areas at $0.16 and $0.06 respectively.
The price has found support above the 200-period moving average and recently moved above the 100-period one. It is also trading below the 50-period MA.
It had made four bullish weekly candles in a row, before making a negative two weeks ago.
The MACD has made a bullish cross and is moving upward, but is not positive yet.
The RSI is at 44, indicating neither overbought nor oversold conditions.
The price is currently trading at $0.124
A look at the 3-day chart shows that the price is following an ascending support line and has been doing so since the beginning of February.
Similar to the weekly chart, the RSI does not show overbought or oversold conditions and the MACD is moving up with strength and is almost positive.
The price moved above the 50-period MA for a short while, but immediately got pushed back.
It is currently facing very close resistance from it.
A look at the Daily chart gives us our first trading structure.
We can see that the price was trading in a symmetrical triangle and broke out on Apr 2.
It tried to break out above the 100-period MA but was unsuccessful.
It is creating bearish divergence in both the RSI and the MACD.
Short-Term Outlook and Price Prediction
A look at the 6-hour chart shows that price has been trading inside an ascending channel since March.
It is currently very close to the resistance line of the channel.
The RSI is in overbought territory, but there is no divergence present yet.
I believe that the price will keep trading inside the confines of the channel.
- The price has found support above long-term moving averages.
- The price recently broke out of a symmetrical triangle.
- The price is trading inside an ascending channel.
Latest Stellar News:
Ripple’s XRP & Stellar Lumens [XLM] Price Action – XLM Unaffected After Negative Research Report
Stellar Price Prediction: XLM Is Struggling to Break Out Above the Resistance
|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 Price Prediction: XLM Broke Out From the Resistance was originally found on copy trading cryptocurrency | Blockchain News | Bitcoin News | blokt.com.