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By Brian Bollinger
Published 14 hours ago Updated 14 hours ago

The XLM/USD technical chart projects an overall sideways trend. The current retracement phase has dropped the price to $0.25 support, which resonates in a tight range. Escaping this range should indicate the further movement in price.

XLM/USD Daily Time Frame Chart

XLM Price Prediction: Hidden RSI Divergence Hints Bullish Reversal For Stellar CoinSource- Tradingview

Past Performance or Trend

Since the bloodbath over the crypto market in May and June’21, the XLM coin has moved in a range-bound trend. Over the past five months, the price has been limited to the $0.45-$0.2 mark. Following the latest rejection from the $0.43 resistance, the price plummeted to the crucial support of $0.25, indicating a 43% loss.

XLM Price Consolidating In A Narrow Range                                            

The XLM coin chart showed a steady downfall which brought the price back to $0.25 support. The XLM coin price has been resonating between the $0.28 and 0.25 mark for almost two weeks, creating a narrow range in its price. This consolidation could provide an excellent trading opportunity once the price breaches either of these levels.

On a contrary note, if the price manages to break out from the overhead resistance level, the market buyers will obtain their first hint for a possible bullish reversal.

At the time of writing this report, the XLM coin price is $0.265, with an intraday gain of 3.03%. The 24hr volume change is $625.3 million, indicating a 1.03% hike. As per the Coinmarketcap, the coins stand at 26th rank with their current market cap of $6.5 billion (0.27).

XLM/USD 4-hour Time Frame Chart

XLM Price Prediction: Hidden RSI Divergence Hints Bullish Reversal For Stellar CoinSource- Tradingview

Technical Indicators

  • The daily Relative Strength Index(38) indicates a bearish sentiment for the coin. However, the RSI line projects bullish divergence in its chart, suggesting the rising strength of buyers.
  • The XLM coin indicates a bearish alignment of the crucial EMAs(20, 50, 100, and 200). Additionally, this 20 EMA line offers strong resistance to the price.
  • The Moving average convergence divergence shows both the MACD and signal are on the verge of crossing above the neutral zone(0.00). This crossover would provide extra confirmation for traders in a bullish breakout.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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