XLM Price Prediction: Stellar Must Crack $0.25 Barrier To Swing To $0.3
- XLM price leads recovery on Friday alongside Binance Coin.
- The 100 SMA resistance must give way for Stellar to approach $0.3.
Stellar closed the trading on Friday in losses, but bulls stamped their feet down on Friday, posting remarkable gain on Friday during the Asian session. The uptick in price seems to have returned the bullish perspective to XLM’s technical picture.
Meanwhile, Stellar is trading at $0.24 in the wake of lifting from the recent support of $0.22. The descending channel’s lower boundary reinforced the buyer congestion zone, ensuring that stability was guaranteed.
XLM Price Recovery Unstopabble To $0.3
A break above the middle boundary resistance allowed bulls to gaze at higher levels, thus bolstering the price above the 50 Simple Moving Average (SMA) on the four-hour chart. The leg up stretched beyond the upper edge of the channel before stalling at the 100 SMA.
XLM/USD four-hour chart
The uptrend will continue to %$0.3 if Stellar closes the day above the 100 SMA. For now, the trend still favours the bulls, as observed with the Moving Average Convergence Divergence (MACD).
After XLM secures support at $0.22 aided by the descending channel, a compelling signal for investors to buy the token emanated. The 12-day exponential moving average (EMA) moved above the 26-day EMA. At the same time, the uptrend will be upheld if the MACD crossed the mean line (0.00) into the positive region.
It is essential to realize that Stellar’s recovery has stalled due to the selling pressure at the 100 SMA. Therefore, bulls must purpose to end the day above this range, a move that may call more investors into the market and extend the winning streak above $0.3.
A couple of more buy signals have recently been flashed by the SuperTrend indicator and the Parabolic SAR. The former changed the colour to green after closing the day below the XLM price. Note that the SuperTrend overlays the chart like a moving average but incorporates the average true range (ATR) in its calculations, which helps send buy or sell signals. Therefore, Stellar has the potential to remain in the bulls’ hands until the SuperTrend closes the day above the price in the four-hour timeframe.
XLM/USD four-hour chart
Similarly, the Parabolic SAR emphasized the bullish grip as it follows Stellar’s recovery. Like the SuperTrend, this tool tracks the trend of an asset and foresees the direction it will take in the near term. For now, XLM price is bound for an uptrend, perhaps until it brushed shoulders with $0.3.