- Stellar Lumens (XLM) is witnessing an uptrend, trading above $0.1150, and aiming for the $0.13 mark.
- Technical indicators suggest bullish momentum, with resistance at $0.1165 and $0.1200 levels.
After a period of steady growth, Stellar Lumens (XLM) experienced a pullback, testing the $0.1100 support zone. However, the cryptocurrency has formed a bullish trend line, with support consolidating around $0.1140, as indicated by data from Kraken. The XLM/USD pair, which recently dipped below the $0.1165 support, is now attempting a recovery, climbing above the $0.1132 resistance zone.
Currently, XLM is trading above $0.1150, showing signs of a potential rally. A crucial resistance awaits at $0.1165, and a decisive move above this level could catalyze further gains. The next significant resistance is positioned at the $0.1200 level. Overcoming this barrier might propel XLM’s price towards $0.1250, and potentially even higher to the $0.1300 or $0.1320 mark.
Support and Resistance Levels to Watch
In case of a downturn, initial support lies near $0.1140, with the main support at $0.1125. A breach below these levels could see XLM testing the $0.1100 zone, and possibly even dropping to $0.1050 in the near term.
Technical Indicators and Predictions
Technical indicators reflect a growing bullish sentiment. The Moving Average Convergence Divergence (MACD) for XLM/USD is in the bullish zone, and the Relative Strength Index (RSI) is above the 50 level, signalling positive momentum. Key support levels are established at $0.1140 and $0.1132, while resistance levels are noted at $0.1165, $0.1200, and $0.1250.
