- XLM coin indicates that the 20 and 200-day EMAs are poised to give rise to a bullish crossover
- The XLM/BTC pair was trading at 0.000007891 BTC with a gain of 1.95%
- The 24hr trading volume for the XLM coin is $799.9 Million
Crypto Investors have another opportunity in XLM with the formation of a Cup-and-Handle pattern in the daily time frame chart. The critical resistance(neckline) for this pattern is $0.4 mark. Anyhow, the price is currently climbing towards that level after it offered a morning star candle pattern at the $0.34 support. Thus, the price will soon be facing this critical resistance level once the handle portion of the pattern is completed.
As per the EMA’s, the XLM coin shows a bullish trend, as the price is trading higher than the crucial EMA’s 20, 100, 200 and 200. Moreover, the chart also shows that the 20 and 200 EMA could soon offer a bullish crossover, attracting more buyers to this coin market.
The RSI (BULLISH) current value is 67, indicating a bullish sentiment in the price.
XLM Coin Crypto Chart In The 4hr Time Frame
On 19th August, the XLM coin took another bounce from the ascending trendline, confirming its validity as good support level. This support trendline could provide some excellent entry opportunities for traders wanting to join the bull rally.
The moving average convergence/divergence indicator (BULLISH) would provide a great confirmation for the above pattern as both the MACD signal line are about to move above the neutral zone (0.00). In addition, the indicator also shows rising green bars on the histogram chart.
Conclusion: From the technical perspective, the XLM coin shows a great bullish outlook with its price action and indicator, indicating this coin is a good option for trend traders who are looking to find long opportunities in the Crypto market.
As mentioned, the coin is forming a Cup-and-Handle pattern, offering an excellent long opportunity for the XLM traders. Thus, if the price manages to break out from the neckline, XLM traders could make a strong-directional move in this coin, which will show the closest target at the $0.46 mark.
Support: $0.35
Resistance: $0.4, $.46