Stellar Lumens Price Analysis: XLM/USD strongly bullish at $0.269

0
1122

The Stellar Lumens price analysis for January 10, 2022, appears to be following a downwards movement, with a probability of a reversal soon. The price has been fluctuating heavily for the last 48 hours. On January 8, 2022, the price started rising from $0.248 to $0.258; however, the price slightly declined the next day. On January 9, 2022, the price went from $0.258 to $0.253 but showed a positive movement right after. The price went from $0.258 to $0.260, which is the current price for XLM.

XLM/USD 4-hour price analysis: Expanding volatility with strong bullish momentum

The Stellar Lumens price analysis reveals that the market’s volatility follows an increasing direction. This signifies that the XLM/USD values subject to change will fluctuate in the direction the volatility moves; more volatility means the XLM price is more prone to undergo variable change. The upper limit of the Bollinger’s band is present at $0.271, which serves as the strongest resistance for XLM. The lower limit of the Bollinger’s band is present at $0.244, which represents the strongest support for XLM.

The XLM/USD price appears to be crossing over the curve of the Moving Average, which indicates a bullish movement. The market’s momentum shows positive signs. The XLM/USD price path appears to be downward, indicating that the trend will shift soon. The XLM price path appears to be following a massive up-trend which could lead to a potential breakout if the price crosses over the upper limit of Bollinger’s band.

Stellar Lumens Price Analysis: XLM/USD strongly bullish at $0.269 1
XLM/USD 4-hour price chart source: Trading view

The Stellar Lumens price analysis reveals that the Relative Strength Index (RSI) is 59, which means that cryptocurrency falls on neither the undervalued nor the overbought side. The RSI appears to be following a straightforward, stable approach that reflects the value of the cryptocurrency remaining stable. The dormant RSI score is caused by the buying activity equal to the selling activity.

Stellar Lumens Price analysis for 1-day: The market succeeds in switching the trend

The Stellar Lumens price analysis indicates that the market’s volatility follows a dormant trend. This means that the price will likely remain constant until the volatility fluctuates. The upper limit of the Bollinger’s band is present at $0.300, which serves as the strongest resistance for XLM. The lower limit of the Bollinger’s band is present at $0.246, which represents the strongest support for XLM.

The XLM/USD price appears to be crossing over the curve of the Moving Average, which indicates that the market is bullish. The bulls currently dominate the market. The XLM/USD price path can be observed moving upwards, indicating positive momentum for the future.

Stellar Lumens Price Analysis: XLM/USD strongly bullish at $0.269 2
XLM/USD 1-day price chart source: Trading view

The Stellar Lumens price analysis reveals that the Relative Strength Index (RSI) is 48, which means that XLM shows no signs of being undervalued or overbought. The RSI appears to be following an upwards approach causing the XLM/USD price to increase and move towards stability until the RSI fluctuates. The buying activity exceeds the selling activity, which causes the RSI score to increase.

Stellar Lumens Price Analysis Conclusion

Careful observations from the Stellar Lumens price analysis have deduced that the bulls have taken control of the market. The price was struggling for $0.275 for a while. However, the price has climbed smoothly at $0.268 and will soon enter the $0.275 range.

Source: https://www.cryptopolitan.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here