|

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:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Ripple faces persistent bear risks, shrugging off ETF inflows

Ripple is extending its decline for the second consecutive day, trading at $2.06 at the time of writing on Friday. Sentiment surrounding the cross-border remittance token continues to lag despite steady inflows into XRP spot ETFs. 

Luna Classic soars 20% as Do Kwon's sentence hearing looms

Luna Classic surges 20% on Friday, extending its recovery for the fourth consecutive day. Roughly 959 million tokens have been burned in December so far, fueling LUNC's recovery.

Crypto Today: Bitcoin, Ethereum, XRP pare gains despite increasing hopes of upcoming Fed rate cut

Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000. 

Ethereum strengthens against BTC post-Fusaka, targeting $3,200 breakout

Ethereum trades above $3,100 on Friday, with bulls aiming for a breakout above a two-month-old resistance trendline. Ethereum gains strength against Bitcoin as demand for the major altcoin increases after the Fusaka upgrade.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.