Home>EXCHANGES>Stellar Lumens (XLM) Price Analysis: Bullish Pattern Forms on the 1D Chart
EXCHANGES

Stellar Lumens (XLM) Price Analysis: Bullish Pattern Forms on the 1D Chart



Stellar Lumens (XLM) has finally broken back above the psychological $0.12 mark today, with a surging 7.39% gain. Trading volume is also showing significant promise, with a $212 Million rise in the last 24hrs – but the promising bull signals don’t stop there.


Stellar Lumens (XLM) Technical Analysis

The #9 cryptocurrency has finally joined in with the bull market after a particularly bearish start to Q2. Over the last 5 days, XLM buyers have made a triumphant return behind the asset and helped to lift Stellar Lumens off the bottom at $0.086, to its new peak at $0.125.
Right now, the price action has met with some minor selling pressure at the 0.236 Fibonacci level ($0.122) which is creating some friction during the intraday uptrend. Bullish signals on the 1D MACD and RSI however, suggest that this is just a temporary pullback.

MACD: The 12-MA has now bullishly passed through the signal line for the first time since March, with increasing buying volume appearing on the histogram.

RSI: The indicator line has spiked dramatically over the last 24hrs – with the asset now looming dangerously close to the overbought region after surging from 46% to the 67% mark. For now, there appears to be no deviation in the rising RSI trend which suggests bullish momentum is continuing to build behind the asset.

Further bullish confirmations can also be seen on the Chaikin Money Flow (CMF), where the indicator line is now holding above the zero line as buying pressure behind the asset increases.

Stellar Lumens Daily Chart

On the 1D XLM/USD 00 we can see a bullish inverse Head and Shoulders (H&S) pattern has almost completely formed.

Over the past 4 weeks, the final part of the pattern – the right shoulder – has started to take shape, with the price action now heading towards the neckline level at $0.013337. Once the asset break above this price point, we should expect a strong bullish rally to ensue.

Looking at the Fibonacci levels above, the breakout targets for the bull-run are likely to be around the 0.5 ($0.179), the 0.618 ($0.204) and the 0.786 (0.241) Fibonacci levels, which have all been major S/R levels during the past 6 months.

Also read: XRP Surges as Coinbase Adds Full Support for New York Residents


Images via Shutterstock, Tradingview.com

The post Stellar Lumens (XLM) Price Analysis: Bullish Pattern Forms on the 1D Chart appeared first on Bitcoinist.com.

 

source: https://bitcoinist.com/stellar-lumens-xlm-price-analysis-bullish-1d-chart/

TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some Satoshi with the exciting new Lightning Network Tippin.me tool!

Post source: Stellar Lumens (XLM) Price Analysis: Bullish Pattern Forms on the 1D Chart

More Bitcoin News and Cryptocurrency News on TheBitcoinNews.com



  • Bitcoin
  • Ethereum
  • Bitcoin cash
  • Litecoin
  • Cardano
  • Dash
  • Stellar
  • Ethereum classic
  • Lisk
  • Tron
  • Neo
  • Qtum
  • Omisego
  • Binance coin
  • Zcash
Scan to Donate Bitcoin to 1J6PGL1oemFb3hxabLygq4WgWx8cbfji1r

Please help us if you can with some Bitcoin

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Ethereum

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Bitcoin cash to qrth4e0g93h3gpxex8ycwuxtsa332tha5qvkmlz0g5

Please help us if you can with some Bitcoin cash

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Litecoin to LTxxjySMDtERJhHYJ99UFW9AamAWTwCAZ4

Please help us if you can with some Litecoin

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Cardano to DdzFFzCqrhsopoZLhbouUwh2NvvWMPeFrXQW9vNNpPKrjKbRGyLRN5joJgCeZ6e1MRHtPHeLffpkNpQs5AdDA8qFCZ4gA9bYtaerNQTk

Please help us if you can with some Cardano

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Dash to XmAdEHrwiVZJVkAxe8hK5U6HZB59L5yhmK

Please help us if you can with some Dash

Scan the QR code or copy the address below into your wallet to send some Dash

Scan to Donate Stellar to GD4KROE42HPOMT7BT6M27HHLFCOSIXPYY2V3WSCX5FYEWRJDIJQ4RWFT

Please help us if you can with some Stellar

Scan the QR code or copy the address below into your wallet to send some Stellar

Scan to Donate Ethereum classic to 0x5BF3fCAC8deA20CF21C9D0D9d058E00EEfc431Ae

Please help us if you can with some Ethereum classic

Scan the QR code or copy the address below into your wallet to send some Ethereum classic

Scan to Donate Lisk to 15642042552518336132L

Please help us if you can with some Lisk

Scan the QR code or copy the address below into your wallet to send some Lisk

Scan to Donate Tron to TYnAenRiV6BsTiE6FVyAcDDxZtBKUQTFxN

Please help us if you can with some Tron

Scan the QR code or copy the address below into your wallet to send some Tron

Scan to Donate Neo to ATiXRHVqYqrNktbxJfcDETfnrSUWSG4cPb

Please help us if you can with some Neo

Scan the QR code or copy the address below into your wallet to send some Neo

Scan to Donate Qtum to QUYXxY6kX7TY2HSLwVYMwFaJNZLwvX5uyp

Please help us if you can with some Qtum

Scan the QR code or copy the address below into your wallet to send some Qtum

Scan to Donate Omisego to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Omisego

Scan the QR code or copy the address below into your wallet to send some Omisego

Scan to Donate Binance coin to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Binance coin

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Zcash to t1cBCyKgSSqWaNrkpvQZUSTuxMmAbbAyFpZ

Please help us if you can with some Zcash

Scan the QR code or copy the address below into your wallet to send some Zcash



Source link

Review Overview

Summary