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Stellar Price Analysis: XLM/USD looks to cross above the 20-day Bollinger Band

  • XLM/USD is trending between the upward trending line and the 20-day Bollinger Band's upper curve.
  • The RSI is trending in the overbought zone around 79.25.
Stellar Price Analysis: XLM/USD looks to cross above the 20-day Bollinger Band
Rajarshi MitraRajarshi MitraIndependent Analyst

XLM/USD daily chart

XLM/USD daily chart

XLM/USD bulls retained control for the fourth straight day as the price went up a bit from $0.102 to $0.10248. The price is hovering between the upward trending line and the 20-day Bollinger Band's upper curve. The MACD shows sustained bullish momentum. 

The RSI indicator is trending in the overbought zone around 79.25. This shows that XLM/USD is overpriced and will face bearish correction soon.

Support and Resistance

XLM/USD has healthy support levels on the downside at $0.0948, $0.0854, $0.0808 (SMA 20) and $0.0764 (SMA 50).


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
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