As we have predicted earlier, Stellar Lumens has managed to adapt itself to the resistance of 0.046 USD. Over the last 24 hours, it has climbed up the hill reversing the trend of the last month. XLM coin’s month-long bearish push may come to an end if this current surge gets retained. It is up by 3.21% from yesterday’s value.
Stellar Price Analysis:
XLM started the day with a struggling note when the price fell to 0.043 USD from 0.0446 USD over the initial 12 hours. However, the struggle soon ended. By 18:49 UTC, the investors’ confidence was shooting as the Stellar price had risen to 0.046068 USD with the help of a 4.73% hike. The next few hours were full pf price fluctuations, but nothing could push XLM coin to the ground. The value got intensified again at 21:10 UTC, and towards the closing of the day, it went on to add value. By 02:01 UTC today, Stellar cryptocurrency managed itself at 0.046108 USD.
The market cap of XLM is yet to take any clue from its struggle against USD. There is ongoing volatility on that front. Between December 27 and today, the market cap has been down to 920.781 million USD from 924.237 million USD.
As per Stellar Lumens prediction, the recent strengthening has helped XLM to remain above its both 50 days MA (0.04609 USD) and 20 days MA (0.046013 USD). Though the gap between the averages and the current trend is not much, it is a great start. The medium-term outlook for XLMN coin is likely to get bullish with a probable placement of trading price at 0.04699 USD as its next resistance. Investors need to stay alert all the time for instant corrections as Stellar Lumens is yet to abandon the volatility it has been showing over the past few months.
Resistance and Support Levels
R1-$0.046993667, R2- $0.047901333, R3- $0.049055667
S1- $0.044931667, S2- $0.043777333, S3- $0.042869667
