XLM Price Analysis – March 30
The Stellar price on the intraday chart is seen rising with a soaring momentum as the currency is ragging above the expected level.
Resistance levels: $0.048, $0.050, $0.052
Support levels: $0.032, $0.030, $0.028
XLM/USD is indicating an uptrend in the market, hovering around 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. Meanwhile, the market is anticipated to come out of the phase soon while XLM may anticipate returning to its original momentum.
However, a fall back-formation below the moving averages could bring the price to the support levels of $0.032, $0.030, and $0.28 after breaking below minor support at $0.065. In other words, considering a continuous upward trend for this pair, XLM/USD could surge towards the resistance levels of $0.048, $0.050 and $0.052 on a long-term bullish. The RSI (14) is looking bullish at the moment as the signal line moves to touch 44-level.
Against Bitcoin, the pair is seen breaking solid support at the 601 SAT touching the 9-day moving average within the descending channel. Stellar price may likely see another sharp drop if the bulls fail to hold the price. Any further bearish movement could drag the market to the nearest support levels at 580 SAT and beyond.
Moreover, Stellar (XLM) is currently hovering at 625 SAT, if the bulls can hold the price and push it up above the 21-day moving average within the channel, the next key targets resistance lies at 680 SAT and above. Meanwhile, RSI (14) moves to cross below the 40-level, indicating a downward movement.
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