Stellar (XLM), at the time of writing this analysis, was trading at $0.0528 on Coinbase. Important to note that the positive intraday move has led the coin to hit a fresh 30-day high at $0.055. However, if we oversee the cumulative move of the coin, the XLM price is on a continual downswing after hitting $0.0897.
XLM Hits 30-Day High with Bullish Momentum
Analyzing the XLM/USD movement on Coinbase, we see that the 3-month price trend of the coin has experienced the utter extremities at $0.0897 and $0.0423. However, since the start of the ongoing year, we have seen the slight bullish move as the price of Stellar hits a fresh 30-day high. The immediate movement of the coin is hinting towards a medium-term price surge as the price trend hits the 20-day upper Bollinger Band. The current movement is rightly backed by the imminent daily moving averages as it moves inside the band width of the 20-day Bollinger Band. The short-term moving averages, i.e. the 10-day daily MA, is rightly providing the major support for the current price zone.
The technical indicators laid also confirm the bullish move and the 30-day peak attained as the MACD of Stellar is moving above the signal line. You can check our Stellar Lumens Forecast to find out about the future prices of the coin.
The RSI of Stellar is at 63.75 and seems to have been slid from the overbought region as there happens to be an intraday dip.
