Market Context: Stellar (XLM) is moving in a bullish pathway but faces resistance at $0.119.
Current Status: XLM is trading at $0.1169, with an intraday fall of 1.76%.
Resistance Level: A strong supply pressure exists at the $0.1195 zone.
Technical Indicators - EMA: The 50-day EMA is slightly above the 200-day EMA, avoiding a death cross.
Technical Indicators - MACD: MACD and signal lines are above the halfway line, indicating bullish momentum.
Recent Performance: XLM has shown a 65% YTD growth in 2023.
Potential Targets: If XLM breaks the $0.1195 resistance, it could aim for $0.1426.
Downside Risk: A failure to break the resistance could lead to a drop to $0.1092.
Market Sentiment: Overall sentiment is cautiously optimistic, especially if XLM can break the $0.1195 resistance.
Long-Term Trend: XLM is currently at a 40% discount from its 2023 swing high of $0.1959.
Market Catalysts: A bullish breakout could boost the Stellar price by 20% to $0.1425.
Long-Term Outlook: Stellar price predictions remain optimistic for the coming months.
Current Status: XLM is trading at $0.1169, with an intraday fall of 1.76%.
Resistance Level: A strong supply pressure exists at the $0.1195 zone.
Technical Indicators - EMA: The 50-day EMA is slightly above the 200-day EMA, avoiding a death cross.
Technical Indicators - MACD: MACD and signal lines are above the halfway line, indicating bullish momentum.
Recent Performance: XLM has shown a 65% YTD growth in 2023.
Potential Targets: If XLM breaks the $0.1195 resistance, it could aim for $0.1426.
Downside Risk: A failure to break the resistance could lead to a drop to $0.1092.
Market Sentiment: Overall sentiment is cautiously optimistic, especially if XLM can break the $0.1195 resistance.
Long-Term Trend: XLM is currently at a 40% discount from its 2023 swing high of $0.1959.
Market Catalysts: A bullish breakout could boost the Stellar price by 20% to $0.1425.
Long-Term Outlook: Stellar price predictions remain optimistic for the coming months.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.