Stellar [XLM] Price Prediction: The Price Is Heading Toward the February 24 High

bitcoin copy trading

Long-Term Outlook

Stellar (XLM) Weekly Logarithmic Chart

A look at the Weekly logarithmic chart for XLM shows that the price is currently trading at $0.091, slightly above the main support area near $0.07.

After three weekly candles representing with long wicks, representing indecision, the price finally made a bullish weekly candle.

The main resistance area is found near $0.14.

The price is trading below the 7 and 21-period moving averages, which have made a bearish cross and the Ichimoku cloud.

The RSI is at 37, indicating neither overbought nor oversold conditions.

On a more positive note, the MACD is very close to making a bullish cross.

Medium-Term Outlook

Stellar (XLM) 3-Day Chart

A look at the 3-day chart shows that the price is facing very close resistance from the 21-period moving average and is also trading below the 50, 200-period MAs and the Ichimoku cloud.

Numerous bearish crosses have occurred.

The RSI is at 41, indicating neither overbought nor oversold conditions.

On a more positive note, there has been significant bullish divergence developing in the MACD. Also, it has made a bearish cross and is moving upward, but it is not positive yet.

Stellar (XLM) Daily Chart

A look at the Daily chart gives a very positive outlook. It shows that price is in the process of forming a bullish engulfing candle.

We can also see that it has been following an ascending support line for the past 21 days.

Furthermore, the 21 and 50-period moving averages have made a bullish cross and are offering support to price.

However, the price is trading inside the negative Ichimoku Cloud and facing resistance from it.

Short-Term Outlook and Price Prediction

Stellar (XLM) 6-Hour Chart

A look at the 6-hour chart gives us the minor resistance area near $0.098 formed by the highs of February 24.

Furthermore, we can see that the price has broken out of the negative Ichimoku cloud and is trading above all the moving averages, finding support above them.

Price Prediction: I believe that during the next week the price will head for the February 24 top near $0.098

Conclusions

  • There is a significant bullish divergence in the medium-term.
  • Price has been following an ascending support line for the past 31 days.
  • There is resistance near $0.14 and support near $0.17.

Stellar [XLM] Price Prediction: The Price Is Heading Toward the February 24 High was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

binary options