XLM bulls defend uptrend to push Stellar into a 20% breakout

  • Stellar price sees bulls stepping in as XRP price sees an uptick.
  • XLM price back towards retest of $0.40 resistance level. 
  • With bulls targeting $0.44, XLM price rally holds 20% of gains.

Stellar (XLM) price is experiencing a solid bounce off the purple ascending trend line that started the uptrend at the end of October. Bulls picked up XLM coins as some tailwinds are re-emerging in cryptocurrencies this Monday. Expect bulls to sit on their hands and ramp price up towards $0.40 in the first phase and follow for a retest at $0.44.

XLM price sees bulls re-embracing Stellar, gearing up for new all-time highs

Stellar price saw buy-side volume spiking higher this Monday as risk puts investors back to work. Bulls will want to first target the intermediary resistance level at $0.40, which saw the last time a clear rejection for the bulls on November 11. Expect to see the massive inflow, a quick pop above that level with a possible support test, before the next leg higher. 

XLM price will, once beyond $0.40, see bulls going for a retest of $0.44. Around that level, bears started to flock in and made price action fade by almost 20%. If bulls play this right and refrain from taking too much profit, expect even a quick blip towards new all-time highs at $0.46.

XLM/USD daily chart

XLM/USD daily chart

XLM price could see some pressure if the Relative Strength Index comes under pressure and gets into the overbought area. That would see some weaker inflow on the buy-side and see the equilibrium shift towards more sell-side volume. In that case, expect a short break of the purple trend line that will see bears eagerly getting in and running XLM price down towards $0.36 with the 200-day Simple Moving Average (SMA) and the monthly pivot for November as support.


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

XRP Price Prediction: Ripple can dip to $0.50

A brief technical and on-chain analysis on XRP price. FXStreet's analysts evaluate why Ripple could drop lower. 

More Ripple News

Ethereum price set to break below $3,000 as crypto bloodbath persists

Ethereum price is still under pressure from the red descending trend line. ETH price is set to break $3,018, bringing the price below $3,000. Expect a further continuation to go hand-in-hand with current financial market sentiment.

More Ethereum News

MATIC price to present a buy opportunity before Polygon rallies

Polygon price action is still stuck in an upward trend channel. MATIC’s current level looks a good buy near the lower end of the channel. Expect a return to the middle of the channel or swing to the upper band once global markets turn green again.

More Polygon News

Crypto.com hits two-month lows as selling pressure accelerates

Crypto.com price is within range of its final support zone before it could move into the $0.30 value area. Bears are in control and have been fighting to push CRO lower, but bulls have persisted.

More Crypto.com News

BTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis