Stellar (XLM) Still Contemplating To Join The Green Part, Will Price Give In?
October 08 2022 - 9:00AM
NEWSBTC
XLM price shows could be ready for a major boost as the price
remains bullish with good volume and strength. XLM trades above
support as the price aims to continue its trend movement as the
price keeps holding above 8 and 20-day EMA. The price of XLM eyes a
rally to $0.14 as the price breaks out of an ascending triangle
with more buy orders. The price of Stellar (XLM) has
continued to show its strength as price trends with a key breakout
from a range-bound movement against tether (USDT). With the crypto
market cap bouncing from its weekly low as the market continued to
look promising, the price of Stellar (XLM) was not left out as the
price broke out of its long-range, with price trending to a higher
height with eyes set for a possible $0.14 target. (Data from
Binance) Related Reading: This Data Shows Ethereum Whales Are
Manipulating ETH Prices, Is That True? Stellar (XLM) Price Analysis
On The Weekly Chart The crypto market received the relief, as most
crypto altcoins expected. However, despite the recent price surge
in most crypto assets, some altcoins have remained range-bound. One
project that has shown great signs of a recovery bounce but keeps
stalling in price is XLM as the price continues to range as it aims
a rally to a height of $0.14. The price of XLM saw its price
rejected to a weekly low of $0.1, with XLM showing so much strength
holding off price sell-off as the price bounced to a region of
$0.13. Weekly resistance for the price of XLM – $0.14.
Weekly support for the price of XLM – $0.1. Price Analysis Of XLM
On The Daily (1D) Chart On the daily timeframe, the price of XLM
continues to show strength as it pulls some gains despite the
market appearing to have stalled in price movement; after hitting a
daily low of $0.1, the price of XLM rallied to a high of $0.13
before being rejected into an ascending triangle as it struggled to
break out with price breaking out and looking more bullish for a
rally. The price of XLM breaking out signals more bullish trends to
a high of $0.14 and a possible rally to $0.16. The price of XLM
holding 8 and 20-day Exponential Moving Average (EMA) is a good
sign for price growth. The prices at $0.12 and $0.11
correspond to the 8 and 20-day EMA values. XLM’s price has a
support level at 8, and 20 EMA, a break below this level would mean
a retest of $1 or even lower. The Relative Strength Index (RSI) for
XLM shows increasing buy orders as the value is above the 50 mark
area daily. Daily resistance for the XLM price – $0.14. Daily
support for the XLM price – $0.1. Related Reading: Shiba Inu: How
This Newly Found Support Will Boost SHIB Price This Week Featured
Image From Cryptoholics, Charts From Tradingview
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