Since our last forecast on the Stellar Lumens (XLM) price, the XLM price has skyrocketed by 26%. Will Stellar Lumens now correct?
In the last XLM price analysis, we had said that: “A bearish divergence has formed in the RSI in the daily exchange rate. The Stellar Lumens price is facing several key resistances. After all, Stellar is currently right at the 0.5 Fib level, which acts as a resistance at $ 0.065. The 200-day EMA is just a few cents above at $ 0.068, as is the golden ratio, which is between $ 0.07 and $ 0.0718. All of these levels act as strong resistances”
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Stellar Lumens Price Analysis- Going high?
In fact, the Stellar price peaked at $ 0.0889, just below the high end of our significant resistance. The XLM price has thus made a higher high, after all the daily price closed higher than in November 2019. This and the fact that the trend line was broken bullish both indicate an impending medium-term upward trend. However, no golden crossover has yet occurred.
Stellar Lumens Price Analysis – Support Level
The Stellar Lumens price now has significant support at four levels. There is an additional support for the price at $ 0.066 – $ 0.069. After that, the Stellar price can find two more supports: First, between the trend line and the 0.5 Fib level , at $ 0.635 – $ 0.65 , and also at the golden ratio at $ 0.60.
Stellar Lumens price analysis- Slight Bullish Divergence
A slight bullish divergence has formed in the RSI. This could lead to a rise to the 50-4H EMA , which is just under $ 0.076 . So far, the 200-4h EMA appears to have served as a support.
Stellar Lumen price analysis- against Bitcoin at the golden ratio?
Against BTC, the XLM price rebounded almost exactly at the 0.382 Fib level and could initially move to the golden ratio at ± 0.0000068 BTC . If XLM finds support there, then it will encounter resistance again at 0.00000717 BTC . Otherwise, the bullish price target is ± 0.000008 BTC , which is the golden ratio.
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Stellar Lumens price analysis- 200-day EMA as key resistance?
The 200-day EMA seems to be an important resistance for the XLM / BTC price, since XLM has reached a local high point and has dropped very much since then. If XLM descends, it will again find support at 0.0000065 BTC and between 0.0000059 – 0.000006 BTC after the golden ratio.
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