XLM Price Prediction: Stellar awaits a massive breakout but remains inside a no-trade zone

  • XLM price has been trading sideways for the past week.
  • The digital asset awaits a clear signal to see a breakout or breakdown.

XLM has continued to trade sideways since we last reported about it. The digital asset remains locked inside a tightening range which will eventually burst. Let’s analyze some of the most important indicators to understand the most likely scenario.

XLM Price could look at a 20% breakout in the short-term

On the 4-hour chart, XLM has been trading sideways in a tightening range between $0.276 and $0.316. The Bollinger Bands have been squeezing notable since January 14 and indicate the digital asset is on the verge of a breakout or breakdown. 

xlm price

XLM/USD 4-hour chart

Additionally, XLM’s trading volume also dropped massively in the past few days, which is another indication of a potential breakout or breakdown. Considering the overall trend is bullish, a breakout is more likely if the bulls can push XLM price above $0.316. The short-term price target would be $0.372.

On the other hand, if the bears can see some momentum on the way down and can crack the significant support level at $0.276, XLM price can quickly fall towards $0.23

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.

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