- Stellar coin is trading on a slightly bearish note over the monthly chart; after witnessing a strong rally, the coin is now placed near the vital moving averages.
- The crypto asset at the chart is struggling to hold its major moving averages of 20, 50, 100, and 200-day lines, with lower volume action.
- The pair of XLM/BTC is trading positivity at 0.000007278 BTC with intraday gains of +3.46%, and the ratio of XLM/ETH is CMP at 0.00009774 ETH with a 24-hour change of -4.60%.
Stellar coin at the monthly chart is trading near the major moving averages, which currently act as support lines. Whereas the coin experienced selling pressure at the higher level, and as a result, the coin gets corrected from higher levels. XML coin is now CMP near the support zone, and if it manages to sustain above it, we can expect a good rebound. Likewise, the volume activity is also near the average volume line and needs a minor increment for a bounceback rally.
The Bulls can overpower in an upcoming trading session if the coin sustains above 100 and 200-DMA lines. Support on the lower side is at $0.3230 and $0.3010, whereas resistance on the higher side is $0.4200 and $0.4621.
Stellar coin at the weekly chart is trading under the descending triangle
Stellar coin at the weekly chart is trading under the descending triangle pattern while building a support zone at the lower side. Moreover, on the higher side, XML is facing the resistance of the trend line and, at the same time, finds support in the lower zone. The technical parameters are now heading higher, after an excellent sideways trend over the chart. Presently, the stellar coin is trading at $0.3380 with a minor intraday gain of -3.07%, and the volume to market cap ratio is at 0.07661.
Relative Strength Index (BULLISH): Stellar coin RSI presently indicates a positive trend over the weekly chart with an upcoming positive trend. In contrast, the RSI is heading higher after a good recovery from the oversold zone and now CMP at 56.
Moving Average Convergence Divergence (BULLISH): This currently indicates an upcoming bullish or positive trend on the daily chart. The buyer’s signal line (blue) is trying to overpower the seller’s line (orange) after positive crossover.
Support levels: $0.3230 and $0.3010
Resistance levels: $0.4200 and $0.4621.