XLM price prediction stays bullish for November 2023 and suggests a significant rise in value is possible.
Stellar price recovered 16% from its swing low and managed to climb above the 50-day and 200-day EMA. It shows that the trend of XLM crypto is reversing upward and bulls are returning back on track.
The downfall in XLM price halted near the $0.1011 level. Buyers came forward to push the price higher and buying volume is also increasing. It denotes some crypto whales are injecting the money at a cheap price and expecting outperformance in the coming months.
On the higher side, $0.1349 is likely to act as a strong hurdle for the bulls. The pullback rally in Stellar may continue to $0.1349. But until buyers succeed in breaking the previous swing high, the sellers will remain active and restrict the upside momentum.
The price action shows the recent upmove in XLM price is supported by high volume. Therefore, it looks reliable and the price is likely to hold the higher levels.
Stellar XLM price is trading at $0.1165 with an intraday rise of 0.69%. The 24-hour volume to market cap is 1.72%.
Will XLM Price Perform Well in November?
XLM price prediction suggests a rise and recovery is likely to continue in the coming months. The next phase of recovery will trigger when buyers can break the $0.1349 hurdle.
On the lower side, $0.1011 will act as a strong support in the coming months. If Stellar price retraces down, then the sell-off may get absorbed, and a bounce back is possible.
The price pattern of Stellar crypto is indicating bullishness and a massive spike may come. So, investors must look to buy XLM to generate nominal returns.
Will Stellar Price Give the Follow-Up Momentum?
Stellar price reversed upward and buyers are trying to give the follow-up momentum. Meanwhile, the overall crypto is performing well which improves the investors’ sentiment and may positively impact the price of other altcoins.
The MACD curve slopes upward and histogram bars have turned green. It indicates buyers are active and positive momentum might continue. The supertrend also turned bullish and suggests, that till the price holds $0.1033, the trend will remain upward.
Conclusion
XLM price prediction is bullish for November 2023 and suggests more upward momentum is pending.
The analysis suggests Stellar price looks cheap at current levels so whales are taking this opportunity to accumulate. Therefore, XLM crypto may perform well in the coming months.
Technical Levels
- Resistance levels: $0.3149 and $0.1731
- Support levels: $0.1011 and $0.0950
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/10/30/xlm-price-prediction-is-stellar-price-cheap-at-current-levels/