Excellent price prediction for today, April 20 – XLM Technical Analysis

adminApril 21, 2024

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Stellar price prediction is recovering from the daily opening level of $0.112 as the price starts an upward movement.

Navigating the Obstacle: Stellar Lumen (XLM) Price Recovery Issue of $0.1150

Following a consistent upward trend, Stellar Lumens found resistance near $0.1365 against the US dollar. This caused the XLM/USD pair to fall below the $0.1200 support level and test the $0.1150 area. A potential upside could occur if the pair clearly breaks the $0.1200 resistance zone.

Stellar prediction statistical data:

Stellar price now – $0.113
Stellar market cap – $3.2 billion
Stellar Circulating Supply – 28.9 billion
Total Stellar supply – 50 billion
Stellar Coinmarketcap Ranking – 32nd

XLM/USD market

Main level:

Resistance levels: $0.150, $0.160, $0.170

Support levels: $0.075, $0.065, $0.055

Excellent price prediction for today, April 20 – XLM Technical Analysis — XLMUSD – daily chart

XLM/USD is likely to break above the 9- and 21-day moving averages after hitting a daily high at the $0.114 resistance level. As of this writing, Stellar is changing hands at $0.113, up more than 0.99% since the start of the European session. However, with the recent recovery, the coin is likely to increase its bullish move towards the top of the channel.

Excellent Price Prediction: Can XLM Break Above $0.120?

Stellar price remains within the 9-day and 21-day moving averages at the $0.113 price level. However, if the bulls start an upward trend, XLM/USD could reach the resistance levels of $0.150, $0.160, and $0.170, pushing the price higher. That said, strong selling pressure below the 9-day moving average could drag the price towards the lower border of the channel if bears re-enter the market.

However, if Stellar is trading below its moving averages, continued weakness could cause the price to reach the support levels of $0.075, $0.065, and $0.055. Meanwhile, the relative strength index (14), a technical indicator, is likely to exceed the 70 mark, indicating a bullish movement.

XLM/BTC Could Head North

Compared to Bitcoin, Stellar price is heading north as the coin moves above its 9-day moving average. However, following recent positive signals, the current market movement may start to follow an upward trend if buyers push the price above the channel cap.

Additionally, if buyers increase the bullish pressure, the market price may reach resistance levels above 215 SAT. Meanwhile, a retest below the 9-day moving average could push the price lower to support levels below 140 SAT.

Nonetheless, @WHALES_CRYPTOx shared insights with his followers on Get ready for potential price action as the market prepares for a major change in the trajectory of XLM!

💰 #xlm/usdt
Cup and handle almost completed💁‍♀️
Breakout is imminent✈️
👇Cryptocurrency Trader – Join Telegram👇https://t.co/caOlZBzS3k pic.twitter.com/MipyVtud7p
— Whales_Crypto_Trading 🐋 (@WHALES_CRYPTOx) April 20, 2024

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Stellar price remains stable within a certain range, suggesting potential buyer momentum heading towards the $0.115 resistance level. Confidence in the recovery phase is very important with a target of $0.120. Meanwhile, Stellar (XLM) is recognized for its stability with a market capitalization of $3.2 billion. In contrast, the Dogeverse pre-sale phase accumulated over $8.3 million, providing investors with consistent returns and growth potential.

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