XLM Price Analysis – March 28
On the intraday chart, XLM/USD is seen rising with a soaring momentum as the coin is ragging above the expected level.
Resistance levels: $0.47, $0.49, $0.51
Support levels: $0.33, $0.31, $0.29
XLM/USD is indicating an uptrend in the market, hovering within the 9-day and 21-day moving averages within the channel. In the past few days, we have seen XLM moving at a high speed in the market. However, recently, the market is projecting a volatile movement where Stellar is spotted following a sideways movement moderately.
Where is XLM Price Going Next?
However, a fall back-formation below the 9-day and 21-day moving averages could bring the price to the support levels of $0.33, $0.31, and $0.29 after breaking below minor support at $0.35. In other words, considering a continuous upward trend for this pair, XLM/USD could surge above the moving averages to hit the resistance levels of $0.47, $0.49, and $0.51 in the long-term bullish. The RSI (14) is looking bullish at the moment as the signal line moves above 45-level.
XLM/BTC Market: Consolidating at the Downside
Against BTC, the market is seen to be moving below the 9-day and 21-day moving average within the descending channel where the price is expected to break above the moving averages. Should the price succeeds, then, it may begin an upward trend which could touch the nearest resistance level 850 SAT and above.
In other words, if the XLM price crosses below the moving averages, the coin is expected to reach the support at 550 SAT and below. The technical indicator RSI (14) confirms that the market may focus on the north to start giving more bullish signals in the nearest term.