Stellar Price Prediction: XLM aims for $0.74 with practically no barriers ahead


  • Stellar price had a breakout from an ascending triangle pattern on the 4-hour chart.
  • The digital asset seems to be facing really weak resistance ahead.
  • A key indicator could be on the verge of presenting strong sell signals.

Stellar price has been trading inside an uptrend for the past week and had a significant breakout above a key pattern. The digital asset aims for new highs with very weak resistance ahead.

Stellar price on the way to $0.74

On the 4-hour chart, Stellar formed an ascending triangle pattern from which it had a breakout several hours ago. The price target is set at $0.74 and XLM seems to have basically no resistance ahead. 

xlm price

XLM/USD 4-hour chart

Additionally, on the 1-hour chart, Stellar also formed an ascending broadening wedge pattern and has bounced off the 50 SMA support level at $0.54. A breakout above the upper boundary at $0.576 can send the digital asset to a high of $0.633, adding credence to the overall bullish outlook.

xlm price

XLM/USD 1-hour chart

However, it is worth pointing out that the TD Sequential indicator has presented a  green ‘8’ candlestick on the 12-hour chart and another one on the daily chart. These two candlesticks can transform into sell signals. 

xlm price

XLM Sell Signals

Confirmation of both signals can send Stellar price down to the 50 SMA at $0.53 on the 12-hour chart and even toward the 100 SMA at $0.475 on the daily chart.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Stellar Price Prediction: XLM aims for $0.74 with practically no barriers ahead

Stellar price has been trading inside an uptrend for the past week and had a significant breakout above a key pattern. The digital asset aims for new highs with very weak resistance ahead.

More Stellar News

Enjin Coin Price Forecast: ENJ aims for a 30% breakout according to technicals

Enjin Coin price has been trading inside an uptrend for the past weeks, but still needs to climb above a key resistance level on the 4-hour chart. Fortunately, many on-chain metrics have turned in favor of the digital asset.

More Enjin News

Polkadot Price Prediction: DOT faces mounting overhead pressure slowing its ascent

Polkadot price was on a constant upswing since the crash a few weeks ago. However, DOT is currently sitting below stiff resistance levels that could invoke a downswing.

More PolkaDot News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: ETH leads uptrend despite threat of reversal

Bitcoin price has begun its ascent, but Ethereum price leads the Monday’s rally after hitting a new all-time high today. XRP, on the other hand, is coiling up after its first run-up.

More Crypto News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP