XLM Price Analysis – November 24
XLM/USD on the intraday chart is seen rising with a soaring momentum as the coin is ragging above the expected level.
Resistance levels: $0.225, $0.235, $0.245
Support levels: $0.120, $0.110, $0.100
XLM/USD is indicating an uptrend in the market, hovering around the upper boundary of the channel. In the past few days, we have seen XLM moving at a high speed in the market. However, before this tremendous bullish movement, the coin was seen moving sideways. It was then, it started a sluggish upward movement towards the 9-day and 21-day moving averages.
What to Expect from Stellar (XLM)
Presently, XLM/USD is changing hands at $0.178 while the technical indicator RSI (14) is seen pointing up to indicate a buy signal within the overbought region. The bulls will have to increase their pressure so as to have the XLM/USD remains above the channel. Meanwhile, a breakdown from this level could cause a sharp drop below the 9-day and 21-day moving averages which may hit the supports at the $0.120, $0.110, and $0.100.
However, considering a continuous upward trend for this pair, XLM/USD could experience another surge towards the resistance levels of $0.225, $0.235, and $0.245 on a long-term bullish as the technical indicator RSI (14) is looking bullish at the moment as the signal line remains within the positive side.
XLM/BTC Market: Skyrockets above the Moving Averages
Against Bitcoin, the Stellar price is trading on the upside of the channel and moving above the 9-day and 21-day moving averages at 937 SAT. If the bulls continue to push the coin to the north as the daily chart reveals, Stellar (XLM) could see an additional rise above the channel. Breaking this barrier could further push the coin to the resistance level of 1150 SAT and below.
Meanwhile, if the sellers hold the price and push it beneath the current price of 937 SAT, the next level of support may be located at 700 SAT while more supports may be found at 650 SAT and below. The trading volume is now increasing heavily as the signal line of RSI (14) remains within the overbought zone.