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Stellar Price Analysis: XLM trades above flat as the rest of the crypto market suffers

  • XLM trades 3.29% higher as the rest of the crypto majors struggle. 
  • The price has bounced off the 55 EMA to push higher.
Stellar Price Analysis: XLM trades above flat as the rest of the crypto market suffers
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

XLM/USD 4-hour chart

XLM pushed past the 0.050 once again as the price trades 3.29% higher on Monday as the rest of the crypto market sells off. Looking closer at the chart the price has traded above the 55 and 200 moving averages showing some bullish signs.

The technical indicators are also looking good as the RSI moved back into positive territory and the buying volume levels picked up too. Its fair to say the price action has been choppy as it seemed in the last four hour period that the price was going to move lower. The main resistance level is now the previous wave higher at 0.05243 and this seems to be the level that bulls are aiming for. 

XLM Pushes Higher

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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