XLM/USD Faces Up; Bulls Hold Around $0.112 Level

The Stellar (XLM) price prediction escalates, but a break above $115 is expected to push the coin above the moving averages.

Stellar Prediction Statistics Data:

• Stellar price now – $0.112
• Stellar market cap – $2.8 million
• Stellar circulating supply – 25.62 billion
• Stellar total supply – 50 billion
• Stellar Coinmarketcap ranking – #25

XLM/USD Market

Key Levels:

Resistance levels: $0.125, $0.130, $0.135

Support levels: $0.100, $0.095, $0.090

XLM/USD is trading around the resistance level of $0.112 after touching the daily high of $0.113 during the European session today. This is a move that could easily pave the way for gains above the 9-day and 21-day moving averages to touch the resistance level of $0.115. Therefore, if the technical indicator Relative Strength Index (14) crosses above the 50-level, the market may show that the bullish grip is getting stronger.

Stellar Price Prediction: XLM Could Trade Bullishly

The Stellar price is currently holding the ground within the channel after a major recovery from the opening price of $0.110. This shows that buyers could have the upper hand in the price movement, and they could easily push the coin toward the potential resistance of $0.125, $0.130, and $0.135. In the other words, if the buying action fails to break above $0.115, XLM/USD could instead settle for consolidation.

Nevertheless, any breakout above the moving averages is likely to have an impact on the market. Moreover, it is about time that buyers increase their confidence in the recovery because $0.120 is still achievable. Therefore, if the bears bring the coin below the lower boundary of the channel, the support levels of $0.100, $0.095, and $0.090 could be reached.

Against Bitcoin, XLM remains below the 9-day and 21-day moving averages preparing to retest the resistance level of 590 SAT. Unless this resistance is effectively exceeded and the price eventually closes above it, there might not be any reason to expect a long-term bullish reversal.

Meanwhile, trading below the lower boundary of the channel could recall the lows, and a possible bearish continuation could meet the nearest support at 550 SAT before falling to 530 SAT and below. More so, the buyers may need to push the market to the potential resistance level at 650 SAT and above as the technical indicator Relative Strength Index (14) moves below the 50-level, suggesting sideways movement.

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