- Stellar has resumed its recovery process after a halt of a few days
- It has been up by 8.59% in the last 24 hours and touched $0.039701
- XLM price may soon reach the next resistance point at 0.04025
After days of sluggish movements and unprecedented spikes, Stellar Lumens seems to have initiated its short-term recovery process. Over the last 7 days, XLM coin has marked mixed signals as it was trading with upside momentum till March 20. Then, it has started downward correction until yesterday, but after a sharp upward move, it has gained almost 9%, and its value against USD has touched $0.039701.
XLM Holds Above $0.0397 After Volatile Day
Yesterday, XLM coin opened the day at $0.036558 and continued to trade in a similar range till almost 12:00 UTC. Then, the currency marked a sudden hike, and the price touched $0.040082. However, after breaching a $0.040 mark, Stellar registered a 4.30% price correction that pulled the value down to $0.03836 by 15:46 UTC. Towards the end of the day, XLM gathered momentum again. Between 15:46 & 01:06 UTC, the currency managed to get ballooned up by 4.04% and touched a new high at $0.039909.
At the time of writing, Stellar price was trading at $0.039701 with the immediate support from 20 & 50-days moving averages. The RSI stands at an improved position at 52.98 points, and as per Stellar predictions, XLM coin is slowly catching up with the upward momentum. Stellar may continue the current trend, and the next resistance seems possible at $0.040254.
