- XLM token price approaches the crucial resistance trendline in the daily chart.
- The rising 20 and 50-day EMA may give bullish support.
- The token pair XLM/BTC trades at 0.000007137 BTC with an intraday fall of -0.26%.
Crypto Investors have another chance in XLM, thanks to the formation of the symmetrical pattern on the 4-hour frame chart. This pattern has a solid support trendline. Even though it provided a morning star candle design at $0.34 support, the price is now climbing towards this level. It means that the price will soon face this crucial resistance level after the handle portion is complete.
The EMA’s show that the XLM coins have a bullish trend. It is trading higher than the crucial EMAs 20, 100, 200, and 200. The chart also shows that there could be a bullish crossover between the 200 and 20 EMAs, which could attract more buyers to this market.
The RSI (BULLISH) The current price is 67. It indicates a bullish sentiment.
The ADX indicator signals a fall in trend momentum.
The current market price for the XLM token is $0.3466. As a result, intraday market capital has fallen by -0.63%. Moreover, intraday trading volume fell by -18% due to the rejection of higher prices.
The XLM Token Price Under Symmetrical Triangle
XLM token prices are moving lower after being rejected close to the resistance trendline. The coin price could soon breach the support level at $0.28, giving rise to a bearish push for XLM token prices to reach $0.27.
The price action suggests that the coin price may support $0.25 or $0.21. However, if the bearish trend reverses, the price may fall if opposition exists at the $0.30 mark.
Conclusion: XLM Token price has reached a strong support level at $0.30, which may act as a demand area to push the price higher to resonate in the symmetrical triangle pattern in the 4-hour chart.
Investors with bullish hope may find an entry spot at the fruition of the pattern in the 4-hour chart. However, one should be careful of a bearish fallout as the price faces resistance.
Support: $0.30 and $0.25
Resistance-$0.45