|

Stellar Price Prediction: XLM faces one last barrier before $0.84

  • Stellar price has just defended a key support level on the 12-hour chart.
  • The digital asset aims for a significant rebound towards $0.60 as it faces only one resistance barrier.
  • The overall momentum remains bullish for Stellar.

Stellar price is closer than ever to its previous all-time high of $0.85, established on January 3, 2018. The digital asset established a robust uptrend since the beginning of 2021 and aims for new all-time highs in the near future. 

Stellar price defends support level and targets $0.6

On the 12-hour chart, XLM bulls defended the critical 12-EMA support level, which has been a significant guide for Stellar price since January 28. The only resistance level is located at $0.52 at the 78.6% Fibonacci level.

xlm price

XLM/USD 12-hour chart

A breakout above this point should quickly push Stellar price towards $0.60. The next potential price targets are $0.71 at the 127.2% Fib level and finally $0.84 at the 161.8% fib level.

On the other hand, losing the 12-EMA support level will push Stellar price down to $0.46 again and $0.418 at the 50% Fibonacci level. Losing this significant support level can drive the digital asset towards $0.37.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

XRP retreats as ETF interest cools
Ripple (XRP) slides toward the short-term $1.10 support on Friday, as broader crypto market sentiment weighs on crypto assets. The sell-off mainly stems from fears of inflation in the United States (US) amid the ongoing war in the Middle East and rising Oil prices.
Crypto Today: Bitcoin, Ethereum, XRP pare losses as breakout potential builds
Bitcoin (BTC) is edging higher on Friday, albeit gradually, after reclaiming support above $65,000. Meanwhile, Ethereum (ETH) shows signs of stability near the immediate $1,900 hurdle, backed by mild capital inflows. Ripple (XRP), on the other hand, holds above the pivotal $1.10, with its upside structurally constrained below $1.15.
Bitcoin Weekly Forecast: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.
Crypto shrugs off a stronger Dollar
Cryptocurrencies have been affected by jitters in traditional financial markets, losing 0.8% of their market capitalisation over the past 24 hours to $2.23T, dipping to a low of $2.21T at the start of active trading in Asia.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game
Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.