XLM Price Analysis – October 17
Stellar (XLM) is a volatile coin as the price fluctuates; the cryptocurrency has always been notable.
Resistance levels: $0.075, $0.80, $0.085
Support levels: $0.054, $0.049, $0.044
The Stellar (XLM) price indicates an uptrend in the market, above the 21-day moving average. Recently, the market is planning an unstable movement where Stellar is spotted moving moderately. Meanwhile, the market would soon come out of the phase and XLM will be able to regain its initial momentum over time.
On the daily chart, Stellar is currently showing a trend in the rectangle channel, with a potential surge of volatility. Considering a northward movement, the amounts of $0.075, $0.080 and $0.085 could constitute resistance for the market. Alternatively, a movement toward the south could bring support down to $0.054, $0.049, and $0.044, while the MACD continued to give positive signals for Stellar.
Against Bitcoin, the pair is still trading on the upside and is currently trading above the 21-day moving average at 796 SAT. If the bulls failed to push the price upward, Stellar (XLM) may likely see a sharp drop to 700 SAT support level. Breaking this level could further drag the market to other support levels at 650 SAT and below.
Furthermore, as the RSI (14) moves above level 60, the coin may likely continue the upward movement. More so, XLM is a result-oriented coin and it has also shown great potential in the past. The recovery is on the go and in no time, we would see Stellar booking huge profits. The resistance levels to watch are 900 SAT and above.
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