The latest Stellar Lumens news show that the XLM coin has followed the market trend and made a bullish push, adding around 10.67% to its value over the last 24 hours. The current price of XLM right now lies in the $0.080 region which is good considering the fact that this price point matches its November levels.
For those of you who don’t follow our Stellar news, the current momentum for Stellar has been good and the cryptocurrency may soon cross its key resistance at $0.086. The XLM price was at $0.074299 at the beginning of the day and by 10:56 UTC, it managed to get elevated by 7.67% which added $0.05701 and placed its price at $0.080. The Stellar Lumens news showed that the cryptocurrency could not stay at this low for long and started gaining strength which is how it was brought to the new price mark.
Right now, the Stellar Lumens news show that XLM is trading stably from the past few days and that it has formed a strong upside trend line on the intraday chart. The current value of XLM is trending above its 50 days MA at $0.081312 and the 20 days MA at $0.081681, surging by 1.12% and 0.67% respectively.
The next halting point for Stellar’s XLM cryptocurrency may come at $0.086 as many analysts noted. On the intraday level, however, investors may witness a few unprecedented price shifts. Even though the Stellar Lumens news were positive and now are negative as XLM corrects, the cryptocurrency saw a 4% price increase in one day of trading and jumped above the $0.080 level which was crucial for it.
Right now, the price expansion in the past 30 days is at 61% as it currently sits in the 13th ranked position with a total market cap of $1.60 billion. The altcoin news also show that XLM is still a steep 90% lower from its previous all time high price.
If the bulls break back above $0.083 and manage to crack the resistance at the bearish .382 retracement, higher resistance lies at $0.090 which is what many look forward to. Above this, additional resistance is found at $0.098, $0.10 and $0.109 which is the most optimistic scenario.
On the other hand, if the Stellar Lumens news show that there is a push beneath the $0.078 support, additional support will be found at $0.075, $0.072, and $0.070 (all in the short term) and beneath this, another support at $0.065.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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