XLM Price Prediction: Stellar bears to take control if $0.40 resistance holds

  • XLM price action struggles to regain a clear move towards the $0.40 level.
  • Strong Ichimoku resistance levels ahead.
  • The inside bar creates possibilities for both bulls and bears.

XLM price has consistently struggled to make any meaningful push against the critical $0.40 resistance level. The 2021 VPOC (Volume Point-Of-Control) is at $0.4042 and has acted as the primary obstacle for Stellar since August 13th, 2021. Now,  the cross-border remittances token is under threat from holding $0.30 and could move down into the $0.20 value area.

XLM price warns of impending downside pressure

XLM price is currently below the daily Tenkan-Sen and Kijun-Sen levels at $0.3508 (both share the same price level). That condition is not overly concerning for bulls, but the location of the daily Chikou Span is a concern since it is below the candlesticks. 

Thus, there is a real risk for Stellar to breach below the $0.30 value area and then begin trading in the $0.20 range. Bears will want to watch for a swift sell-off if XLM closes below the inside bar low of $0.3048. 


XLM/USD Daily Chart

While the bears have a good hold of the short-term direction of XLM price, bulls can be patient and watch for several vital levels that will confirm the emergence of a new uptrend. 

First, if bulls can push Stellar to close at or above $0.39, then that means the Chikou Span is back above the candlesticks and prices will be above the Tenkan-Sen and Kijun-Sen. Second, bulls will want to watch for follow-through higher if XLM closes above the inside bar high at $0.3426. 

The 2021 VPOC will continue to be a strong resistance zone, but a third test of the VPOC soon after the last test will likely bring positive momentum to push XLM price higher. 

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

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto bulls on winning streak pushing for more

Bitcoin price jumped this week after a shift in sentiment on Thursday when global equities went back in the green and investors favored riskier assets like cryptocurrencies. 

More Bitcoin News

Binance support for Polkadot parachain auctions could send DOT to new all-time high

At the Sub0 Conference representatives of Parity Technologies, DOT founders Gavin Wood and Robert Habermeier, confirmed that Polkadot is now ready to implement parachains, auctions and crowd loans on its blockchain network. 

More Polkadot News

XRP price awaits for volume to skyrocket to $2

A brief technical and on-chain analysis on XRP price. Here, FXStreet's analysts evaluate how Ripple bulls take control.

More Ripple News

Shiba Inu whales buy the dip after SHIB loses $600 million in market cap

Shiba Inu concluded a massive rally, and SHIB price plunged on October 14. Proponents were awaiting a Dogecoin flippening, however, SHIB dropped to 14th rank by market capitalization soon after. 

More Shiba Inu News


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