Stellar momentum has been suffering from quite a few days. However, the period before that was impressive. The coin breached 90-days high at $0.0872 during the same period. If we move the scale to 30-days, then the coin is reflecting the progression of 27%. The coin escalated as high as $0.087270 and as low as $0.054127 in month’s period.
XLM/USD Price Chart:
Stellar price was spotted at $0.0595 on January 20, and then it escalated to $0.0640 in the next 24 hours. Later, the coin experienced pullback pressure that took the price down to $0.0549 on January 24. For the next five days, XLM coin kept a moderate pace yet booked 13.83% progression, but again, the price dropped to $0.0606 by a marginal fall of 3.18% on January 31.
In February, the price of Stellar improved and touched $0.0650 by 7.31% on February 02. After this hike, the coin traded down to $0.0614 by 5% but soon recovered to $0.0732 by a huge margin of 27.11%. From February 07 to 11, the price locked around the same level, and then XLM coin marked a sharp upward move and took off to $0.0875 by a massive hike of 26.60%. At this high, the coin couldn’t manage itself and dropped to $0.0795 but again picked up to $0.0869 by on February 15. The coin experienced heavy pressure and again dropped to $0.0671. From this low, Stellar coin escalated to $0.0764. The month-long movement reflected a 27.11% progression in the price of XLM coin.
As per the MACD indicator, the signal line has overlapped the MACD line and likely to cross again in a while. The same indicates that XLM may trade with a similar trend in the near-term. As per the current momentum, the coin seems to be heading towards the immediate resistance level at $0.0778. However, if the momentum reverses, then the coin would find the immediate support level at $0.0710.
Resistance & Support Levels
R1: $0.0778, R2: $0.0818 and R3: $0.0846
S1: $0.0710, S2: $0.0674 and S3: $0.0642