Our analysis suggests that XLM could potentially breach the $0.24 mark by year’s end. If achieved, buyers can expect Stellar to approach resistance levels near $0.24 before igniting a rally.Īlternatively, a drop below the current support level could expose Stellar to further declines, potentially delaying near-term recovery. Potential investors should closely monitor for a close above the resistance zone of $0.17 to gauge a possible upswing. However, forecasting its performance for the rest of 2023 depends on several market factors and recent trends, especially after the recent SEC loss in its lawsuit against XRP. Stellar traded at an 85% discount from its ATH levels at press time. Recently, XLM exhibited a bullish trend, overcoming a resistance barrier of $0.12-$0.15.Īmid the ongoing market recovery, investors are actively looking for the next crypto to explode.In 2023, XLM saw a substantial increase, with a 180% growth to reach its April 2022 high of $0.197 on July 13th.The crypto experienced a steady decline after its 2021 peak, with a brief recovery in March, before hitting a low of $0.105 in May.XLM started 2023 for $0.0711, dropping from a high of $0.79 in May 2021. Stellar’s all-time high was $0.8755 during the January 2018 crypto bubble.To summarize, Stellar’s key price points include : However, a closure above this level could indicate a sustained upward trend.Īt press time, XLM is the 21st largest crypto by market cap, making it one of the top cryptos to watch. The $0.17 level posed strong resistance, causing a brief pullback. Since then, the bulls have been battling to maintain the upward trend. It’s like a pause, a flag before the price resumes its upward climb.Īs a result, the price broke the resistance barrier at $0.12-$0.15. A bullish flag appears during an upward trend and signals a potential continuation of the same trend. This uptrend sketched a ‘bullish flag’ on the daily chart. Moreover, the 20-day and 50-day EMAs crossed above the 200-day EMA-a trading event known as a ‘golden cross’ in technical analysis, often seen as a bullish signal. EMAs are a trading tool that averages a coin’s price over a specific period, placing more emphasis on recent data and helping to identify price trends and potential reversals. This sharp rise saw the price climb above the 20-day, 50-day, and 200-day Exponential Moving Averages (EMAs) – indicating a bullish advantage. The coin has experienced bullish momentum in the recent few days after bouncing back from the $0.07 support level. Soon after, the price slid to a low of $0.12 amid market uncertainties, which could spark a short-term uptrend. The token ascended to $0.25 by March-end last year, only to encounter a prolonged drop that lowered its price to $0.105 on May 12 – a day marked by a market crash, notably impacting Terra coins.įrom the onset of 2023, Stellar embarked on a sharp upward journey, witnessing over 180% growth to equal its previous April 2022 high of $0.197 by July 13, 2023. Post its May 21 peak, XLM’s rapid decline mirrored the overall market slump. It’s worth noting that XLM reached its record peak (ATH) of $0.8755 during the volatile 2018 crypto boom. In early 2023, XLM was valued at $0.0711, a notable plunge from its 2021 peak of $0.79, which it hasn’t regained in subsequent rallies. This can be vital in gauging XLM’s past performance or framing our future price predictions. Although it’s essential to remember that previous performance doesn’t guarantee future outcomes, understanding Stellar Lumens’ historical price trends can offer valuable insights.
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