• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Technical analysis XLM

Charted: Stellar (XLM) Skyrockets, Why Break Above $0.20 Seems Likely

Aayush Jindal by Aayush Jindal
2 months ago
in XLM
Reading Time: 2min read
Charted: Stellar (XLM) Skyrockets, Why Break Above $0.20 Seems Likely
Advertisement
Nexo Logo
Listen to Article

Stellar (XLM) surged over 70% in the past three sessions and it broke the $0.1800 resistance against the US Dollar. XLM price is likely to continue higher towards $0.2000 or $0.2200.

  • There was a sharp upward move above the $0.1500 resistance against the US dollar.
  • The price cleared many hurdles near $0.1650 and settled well above the 100-day simple moving average.
  • There was a break above a crucial contracting triangle with resistance near $0.0882 on the daily chart of the XLM/USD pair (data source from Coinbase).
  • The pair is likely to continue higher towards $0.2000 and $0.2200 as long as it is above $0.1650.

Stellar (XLM) is Up 70%

In the past few days, there was a strong rise in bitcoin, Ethereum and ripple. As a result, stellar (XLM) also formed a strong support near $0.0700 before starting a fresh increase against the US Dollar.

To start a strong increase, there was a break above a crucial contracting triangle with resistance near $0.0882 on the daily chart of the XLM/USD pair. The pair gained pace above the $0.1000 and $0.1200 resistance levels.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The price gained pace above the $0.1500 level and the 100-day simple moving average. It even broke the $0.1800 level and traded to a new multi-month high at $0.1952. Stellar’s XLM price is currently correcting lower and trading below $0.1900.

Stellar (XLM)

Source: XLMUSD on TradingView.com

An initial support is near the $0.1800 level. The first key support is near the 23.6% Fib retracement level of the recent increase from the $0.0725 low to $0.1952 high.

If there is a larger decline, the price could decline back towards the $0.1350 level. It is close to the 50% Fib retracement level of the recent increase from the $0.0725 low to $0.1952 high. Any more losses could lead the pri towards the $0.1200 support zone (the recent breakout zone).

More Upsides in XLM

If XLM price remains elevated, there are chances of more upsides above $0.1900. The next key resistance is near the $0.1950 level, followed by $0.2000.

A clear break above the $0.2000 resistance level may perhaps open the doors for more gains above $0.2050. The next major hurdle for the bulls could be near the $0.2200 level.

Technical Indicators

Daily MACD – The MACD for XLM/USD is strong placed in the bullish zone.

Daily RSI (Relative Strength Index) – The RSI for XLM/USD is currently into the overbought zone.

Major Support Levels – $0.1700, $0.1650 and $0.1600.

Major Resistance Levels – $0.1900, $0.1950 and $0.2000.

Tags: stellarxlmusdxlmusdt
TweetShare
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Stellar (XLM)

Charted: Stellar (XLM) Prints Bullish Breakout, Why It Could Test $0.20

2 weeks ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Robonomics Winter School 2021 Master Classes And Lectures Open For Attendees

January 18, 2021

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.