XLM Price Forecast: Stellar Bullish Comeback Eyes Highs Beyond $0.5

Daily Stellar Lumens XLM Price Forecast

Last Updated July 23rd 2021
2 Min Read
  • Stellar breaks out of a symmetrical triangle pattern, aiming for a 21% upswing.
  • Short term technical levels improve in support of XLM's uptrend.
  • The TD Sequential indicator flashes a sell signal, hinting at a possible correction.
  • Stellar has lifted off the symmetrical triangle pattern on the four-hour chart. The triggered buy orders led to a surge in trading volume. At the time of writing, XLM is doddering at $0.46 amid the push for gains above $0.5.

    Stellar's Upswing Seems Unstoppable

    The Relative Strength Index (RSI) on the four-hour chart shows that Stellar is in the bulls' hands. This indicator tracks an asset's trend and measures its strength, as the name suggests. The RSI also shows when the asset is overbought or oversold. At the time of writing, XLM's least resistance path is upward, emphasized by the RSI.

    XLM/USD Four-Hour Chart

    xlm/usd 4-hour chart 040221

    The Parabolic SAR on the four-hour chart also validates the bullish outlook. The indicator gave out a bullish impulse as soon Stellar bounced off support at $0.38. As long as the parabolas stay below the price, XLM would hold tightly to the uptrend eyeing highs past $0.5.

    Similarly, the four-hour Moving Average Convergence Divergence (MACD) indicator also reinforces the bullish narrative as it rises higher in the positive area. Besides, the MACD line (blue) widens the gap above the signal line, cementing the market's bulls' presence.

    XLM/USD Four-Hour Chart

    xlm/usd 4-hour chart 040221

    Looking at the Other Side of the Picture

    The same four-hour chart brings into light a sell signal presented by the TD Sequential indicator. The call to sell formed in a green nine candlestick. This signal insinuates that buyers could be losing traction as bears prepare to take control. If validated, the price will drop in one to four four-hour candlesticks.

Top Brokers in