Stellar price is spotted around $0.0692 at the time of penning down. The currency is reflecting an upside momentum for the last couple of weeks. The same is also likely to continue in the upcoming days. The RSI is trending in the overbought region. The impending days might be regressive, or it might continue this momentum for some time.
Stellar Price Analysis
XLM coin began 2020 with upside momentum, and on the first days of January, the currency was trading around $0.04447. Later, by January 13, the price touched $0.0479. The uptrend strengthened, and over the next 7 days, the Stellar price escalated to $0.0628. Then, the currency faced moderate plunge; however, it held its ground well till the closing of the month and managed to stay above $0.060 mark.
Stellar kept the upward momentum intact in February. Over the first 15 days, the price escalated to $0.868 and reshuffled 90-days high. However, in the following days, the XLM price reflected the bearish movement and fell to $0.070 on February 18. Then, it managed to trade stably till February 25, but on the next day, the price to the immediate resistance level at $0.0605. Further, it continued the downside correction, and on March 09, the price plunged to $0.0497.
After that, Stellar price dropped to $0.0251 on March 13 and floated around the same level till the end of the month. However, the currency started recovery since the beginning of the ongoing month, and the XLM price marked a gradual hike continually. At the time of writing this analysis, the coin spotted at $0.0692, and it has already breached its first resistance at $0.0605.
The RSI of the coin is at 77.12, and it reflects the possibility of a trend reversal. However, as per the MACD indicator, Stellar might continue trading with the current momentum. The same is indicating a slight possibility of recovery.