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Stellar Lumen Price Analysis: XLM/USD is looking to break out of the 0.0771 area

  • Stellar is trading over 7.5% higher on Monday as sentiment reverses.
  • The next target is 0.077171 which is the previous wave high.
Stellar Lumen Price Analysis: XLM/USD is looking to break out of the 0.0771 area
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XLM/USD daily chart

The XLM/USD pair is looking positive as a surge of bullishness hit the pair during the US session. The altcoin is outperforming all of the crypto majors at the start of the week. looking closer at the technicals the price looks set to hit the previous wave high if the bulls can keep this momentum going. 

All of the technical indicators on the chart are looking bullish. The Relative Strength Index indicator has pushed above the 50 mid-line and the trajectory of the signal line is still good. The MACD is also looking positive as the histogram pushed above the mid-line. The signal lines are still above mid-level and the separation is also increasing which is a good sign for XLM.

XLM rockets

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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