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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.

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