Stellar price analysis: Bullish momentum pushes XLM to $0.186

TL;DR Breakdown

• Stellar price analysis supports the bullish side.
• Resistance for XLM is present at $0.188.
• Support for cryptocurrency is present at $0.180.

As per the latest Stellar price analysis, the bullish side is ruling the market, with the price increasing on a regular basis. Although a strong correction was observed on 26 April 2022 when the price levels suffered vigorously, the latest chart shows bullish price movement at $0.186. More buyers, as compared to sellers, are turning to the market with the intention of improving the price value even further. Currently, XLM is testing the resistance of $0.186, and in case of a break above, bulls will aim for th next resistance present at $0.188.

XLM/USD 1-day price chart: Green signal for buyers as bulls continue ruling

The 1-day price chart for Stellar price analysis shows bullish signs, with the price levels increasing, although the past week has been unfavorable for the bulls as the price levels have continued to decrease. Yet, today the trend is upwards, and the price has recovered up to $0.186.The coin reports an increase in value by 0.91 percent for the last 24 hours. On the flip side, the coin is still at a loss of 7.14 percent for the past week as bears were ruling the charts. The moving average (MA) has traveled to $0.190, which is still higher than the current price level.

The Bollinger bands are maintaining their values, indicating no notable change in the volatility and reaching an average value of $0.195. The upper Bollinger band is present at a value of $0.209, representing the resistance, whereas the lower band is at a value of $0.180, representing the strongest support. The 1-day candlestick chart shows the RSI score of 41, and the upwards slope of the indicator hints at the buying activity in the market.

Stellar price analysis: Recent developments and further technical indications

The 4-hours Stellar price analysis is going in the bullish direction with the resistance also present at the current price level of $0.186. During the past hours, the price function has been under the control of bulls, yet the bulls have to make a breakthrough above $0.186. The moving average has jumped higher to the value of $0.0.184. At the same time, the mean value of Bollinger bands has reached the figure of $0.185.

The volatility is comparatively high as the Bollinger bands are covering more area, which is a positive indication for the future. The upper value of Bollinger bands is $0.192, while the lower value is $0.0.178 in the 4-hours XLM/USD price chart. The Relative Strength Index (RSI) is currently trading at index 47 in the lower half of the neutral zone. However, the curve of the indicator is getting horizontal, which hints at the resistance from the bearish side.

The majority of the technical indicators for Stellar price analyses are still favoring the bearish side because the trend was downwards mostly during the past week. The summary shows more support for the sellers, with two indicators at the buying position, nine at the neutral, and fifteen at the selling position.

Stellar price analysis Conclusion

The Stellar price analysis is showing increasing momentum for the bulls. The resistance present at the $0.186 level may be crossed by cryptocurrency if today’s trend continues in the coming hours. Major shifts in the market trends are expected as more and more buyers enter the market. However, the cryptocurrency may go into correction for a few hours as the RSI curve in the 4-hour chart is flattening up.

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