Bulls manage to escape bearish pressure at $0.35


2 h

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  • The price has increased up to $0.35.
  • Stellar price analysis supports bulls.
  • Support for XLM is found at $0.332.

The latest Stellar price analysis is showing support for the bulls today as an increasing trend is dominating the market. The bulls have rescued the price from bearish pressure by taking it above $0.34 in the last 24-hours. Although the cryptocurrency was following a downtrend for the past two weeks, today the bulls have succeeded in securing their win. Further improvement in price is to follow as the hourly prediction is not so discouraging.

XLM/USD 1-day price chart: Price grows above $0.34 as uptrend follows

The one-day Stellar price analysis is showing increasing chances of an uptrend, as more buying activity has been observed in the last 24-hours. Although the cryptocurrency remained under loss in the past few weeks, the bulls have been able to return back. The price is now at $0.347 and further recovery is to follow if the buying momentum intensifies. The price is still lower than its moving average (MA) value i.e. $0.363.

The decreasing volatility is indicating that the bulls might find their way to recovery in the next few hours. The upper Bollinger band value has thus shifted to $0.356 whereas the lower Bollinger band value is now $0.327. The RSI score is in the neutral zone now as the uptrend has improved it to 48.53.

XLM/USD technical indicators chart. Source: TradingView

As it can be observed, more selling activity has been recorded during the past few weeks for XLM/USD. The technical indicators chart is thus giving out a bearish signal indicating a drop in the overall market value of cryptocurrency. More indicators are on the selling position i.e. 14, while seven indicators are on the neutral and five indicators are on the buying position.

The Moving Averages Indicator is showing support for the bears by giving out a strong bearish indication. We can see that 12 indicators are on the selling mark, two indicators are on the buying mark while only one indicator is on the neutral mark. The Oscillators, on the other side, are giving a neutral hint for the day as six oscillators are on the neutral position, three oscillators are on the buying position and two oscillators are on the selling position.

Stellar price analysis conclusion

The cryptocurrency is following a bullish trend for the day, as a rise in price has been detected up to the $0.347 mark. The one-day price chart is showing signs of bullish activity as well, as the bulls have rescued the price after a prolonged bearish trend. On the other hand, the four hours price chart is showing a slight drop in the XLM price.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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