XLM Price Analysis – April 10
The daily chart shows that the upward direction of Stellar (XLM) is revealing as the bull gains momentum.
Resistance levels: $0.64, $0.66, $0.68
Support levels: $0.43, $0.41, $0.39
According to the daily chart, XLM/USD is gradually maintaining an uptrend as the market volume size is increasing. Meanwhile, a push is likely to shoot price to the upper boundary of the channel, where the $0.56 resistance level lies. More so, the Stellar price may continue in the channel pattern until a price break above the channel is experienced.
What to Expect from Stellar (XLM)
A fall back-formation below the moving averages could bring the market price to the support levels of $0.43, $0.41, and $0.39 towards the lower boundary of the channel. In other words, considering a continuous upward trend for this coin, XLM/USD could surge towards the resistance levels of $0.64, $0.66, and $0.68 on a long-term bullish. Meanwhile, the technical indicator RSI (14) is looking bullish at the moment as the signal line moves above the 65-level.
XLM/BTC Market: Consolidating to the Upside
Comparing with Bitcoin, the pair is still trading within the descending channel and currently trading above the 9-day and 21-day moving averages at 938 SAT after touching the high of 982 SAT. If the bulls fail to push the price higher, Stellar (XLM) may likely experience a sharp drop at the 800 SAT support level, and breaking this level could drag the market to the critical supports at 750 SAT and below.
In other words, as the RSI (14) moves above the 60-level, the coin may likely continue the upward movement in as much as the indicator stays within the bullish zone, the recovery is underway and in no time traders would see Stellar maintaining the upward movement. The resistance levels to keep an eye on are 1050 SAT and above.