XLM Price Forecast: Stellar could revisit $0.41 if critical support level holds
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XLM price is nearing the end of a consolidation pattern and hints at a 40% surge. However, a close below the crucial support level at $0.27 could pot

  • XLM price is nearing the end of a consolidation pattern and hints at a 40% surge.
  • However, a close below the crucial support level at $0.27 could potentially crash Stellar’s price by 20%.
  • XLM price is nearing the end of a consolidation pattern and hints at a 40% surge.
  • XLM price is nearing the end of a consolidation pattern and hints at a 40% surge.
  • However, a close below the crucial support level at $0.27 could potentially crash Stellar’s price by 20%.
  • However, a close below the crucial support level at $0.27 could potentially crash Stellar’s price by 20%.

    Stellar is trading at $0.28 after a retracement from its recent highs. The correction seems promising as a confluence of bullish indicators suggests that XLM price is ready for lift-off.

    correction indicators

    XLM price gears up for another bull rally

    Stellar price hints at a breakout from a descending parallel channel where it has been contained over the past few days. However, it must first overcome multiple resistance barriers presented by the short and the mid-length EMAs. 

    A close above the $0.30 level would confirm the upswing that will likely see XLM price retest the recent high of $0.41.

    Adding credence to the bullish scenario is the SuperTrend’s buy signal presented on January 4. As long as XLM price continues to trade above the $0.27 support level, this technical index will continue to favor the bulls and lead to higher highs. 

    bullish scenario

    XLM price US dollar chart

    XLM price US dollar chartXLM price US dollar chart

    XLM/USD 1-hour chart

    XLM/USD 1-hour chart

    It is worth noting that an hourly candlestick close below $0.27 would invalidate the optimistic outlook. Breaching the long-length EMA as well as this support level may result in further selling, which can trigger a 20% drop.

    On its way down, XLM price could find support around $0.21.

    From: FXSTREET