- XLM Price Prediction suggests a rise till it holds $0.0700 support.
- The XLM Price seems to be consolidating for the base formation.
- Stellar Price drops below the 50 and 200 day EMA but lacked downside momentum.
XLM Price Prediction suggests a rise and the long term outlook remains bullish till it holds $0.0700 support. The prices seem to be stuck in a narrow range between $0.0800 to $0.1000 and likely to break either side soon.
The price is trading below the 50 and 200 day EMA showcase trend is in downward direction. However, the prices lacking the downside momentum and consolidating in a narrow range shows signs of base formation.
Stellar price is quite stable and performed well in the month of March. Sadly, buyers were not able to hold the higher levels and witnessed profit booking. It dropped below 50 day EMA and $0.1000 support which hurted the sentiment of investors and invited further decline.
XLM price is trading at $0.0888 on a flat basis and 24 hour volume to market cap ratio is 0.0145. The pair of XLM/BTC is trading at 0.0000031. The price pattern of XLM with the BTC pair is quite different and seems to be in a strong downtrend.
At the beginning of March, Stellar Price gained positive momentum and climbed above the 50 day EMA. It created a hope for the bullish trend reversal and prices rallied 33% in a short period of time. The rally halted near $0.1148 and prices began to consolidate for some time.
XLM Price near long term base
XLM Price tried to expand upward to gain the confidence of long term investors. Sadly, prices took the opposite direction and reverted in a downward direction. XLM price corrected 22% approx from the recent swing high and formed a bearish pattern.
However, the price is near to the demand zone and downside seems to be limited. Till price is sustaining above the $0.0700 level the probability of rebound remains high. But the price will pick up momentum only after the breakout of $0.1000 level.
On the other hand, if the price drops below $0.0700, it will surely raise concern for the long term investors. The technical analysis suggests, XLM price is consolidating for the base formation and downside seems to be limited.
XLM Price near to oversold territory
XLM Price is near to the oversold territory and forming a Doji candle on a weekly timeframe. It represents indecisiveness and the possibility of reversal is high. However, the confirmation of reversal will come when price sustains above the EMA.
Technical indicators like MACD are one way to generate a fresh positive crossover. It shows buyers are trying the best to rebound. The RSI at 36 sloping sideways denotes prices are oversold and relief rally may trigger any time from lower levels.
Conclusion
XLM Price Prediction suggests a rise in the long term till price holds $0.0700 support. Stellar prices consolidated a lot in a narrow range and formed a strong base. Therefore, technical analysis says, XLM crypto is near to the demand zone and downside seems to be limited.
Technical levels
Resistance levels: $0.1000 and $0.1148
Support levels: $0.0800 and $0.0700
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.