Stellar (XLM) –  What is the Chart Showing Us?

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At the time of writing XLM is being traded at the price of $0.2801. The price of XLM has decreased by almost 22.35% in the past 24 hours. The maximum and minimum of the day are around $0.3634 and $0.3213. The daily trading volume has also increased by almost 123.91% in one day. XLM is listed on coinmarketcap at 24th spot according to market capital and has a market dominance of about 0.33%.

XLM before the crash had achieved its all-time high around the price of $0.7985 in May 2021. During the crash, XLM created a bottom and dropped down to $0.1985. As compared to other coins XLM has been one of the slow gainers but it is still comparatively closer to the bottom than the ATH.

XLM has a total supply of around 50B tokens and has a circulating supply of around 24.6B coins. XLM can be traded at a lot of different exchanges such as Binance, crypto.com, OKEx, Huobi with different trading pairs.

Technical Analysis – Stellar (XLM)

On the daily time frame, we can see that the price has found strong support. The price has bounced from this level at many points. This level came into existence after the price broke the structure. This level is now crucial for the price to hold.

Now the price is on its way to going for a higher high. XLM is still above this level. Now there are two possible movements for the price.

XLM -1D

One possible movement is that the price would move on to create a higher high and this would retain the bullish structure of the price.

The other price movement would be the price to break this level. If it breaks, this would open another range for the price to move in. This can result in the price dropping down to the lower order block which hasn’t been mitigated up till now. If the price drops here, we can look for possible longs, if it holds this level, and depending on the LTF confirmations to have a clean entry in the market. The first target would be the upper order block.

Price Prediction – Stellar

Stellar(XLM) has been one of the highly bullish coins in the market. According to wallet investor, XLM in one year is expected to reach a value of $0.565. In five years, it is expected to touch $1.5195.

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