TL;DR Breakdown
- Price has leveled up to $0.243.
- Stellar price analysis shows uptrend.
- Support is found at $0.174 low.
The most recent Stellar price analysis confirms an increasing trend for cryptocurrency today as the coin value has leveled up. The market value of XLM/USD has been rising for the past week as a continuous bullish wave seemingly took over the market. The price followed a bullish movement in the past 24-hours as well and now it is standing at $0.243 high. Chances of further bullish growth seem quite near as the bearish resistance is very low.
XLM/USD 1-day price chart: Bullish rally advances towards its next destination
The one-day Stellar price analysis confirms a strong bullish trend for today as the coin value has undergone a considerable improvement. The effort from the buyers’ side remained commendable and persistent throughout last week. And today, the circumstances were again in support of the bulls as the price covered an upward movement up to $0.243 high. In this way, it has moved beyond its moving average (MA) score, which is currently $0.218.
The volatility in the one-day price chart is increasing, which is quite discouraging news regarding the upcoming price trends. The upper Bollinger band now rests at $0.239 high, and the lower Bollinger band is found at $0.174 low. The Relative Strength Index (RSI) score has reached 60.27 and might soon enter the overbought zone as well.
Stellar price analysis: Bulls regain stability as price levels up to $0.243
The hourly Stellar price analysis favors the cryptocurrency buyers as a strong rise in XLM/USD value was detected in the past few hours. The bulls have been dedicated to rewin their leading position over the market, and so far, their progress has been fascinating. The price experienced a rise to $0.243 in the last four hours because of the upturn. At the same time, the price crossed its moving average value, i.e., $0.241, due to the upside.
Although a strong bullish trend was controlling the market in earlier hours, there were instances where the bears got control. But now it seems that the situation is again turning in favor of the buyers. The Bollinger bands indicator shows the following values in the hourly price chart; the upper value is $0.254, whereas the lower value is $0.216. The RSI score has enhanced up to 63.12 because of the uptrend.
The technical indicators chart for XLM/USD is going in the direction of the cryptocurrency buyers as the bulls have been dominating the market for the past few weeks. This is why there are 11 indicators on the buying side, seven on the selling and eight indicators on the neutral side.
A bullish signal is being indicated by the moving averages indicator as well. There are eight indicators of buying position; six are standing on the selling while only one is on the neutral position. The oscillators show a positive signal, and seven oscillators are on the neutral point; three are on the buying while only one indicator is there on the selling point.
Stellar price analysis conclusion
The bulls have been reigning high, as confirmed from the above one-day and four-hour Stellar price analysis. An overpowering bullish wave dominated the market in the past 24-hours as well, and the price has increased up to $0.243. The bullish current is expected to intensify in the upcoming hours.
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Source: https://www.cryptopolitan.com/stellar-price-analysis-2022-02-09/