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Stellar (XLM) on the rise: is the trend going to last?

Stellar (XLM) it began a strong rally above the $ 0,1350 resistance line. The price of XLM is well above $ 0,1500 today and may continue to climb towards key resistance lines at $ 0,1800 or $ 0,2000.

In fact, after having formed a rather solid support base at $ 0,1200, Stellar (XLM) was able to push its ambitions quite easily even above the $ 0,1300 line, with a substantially autonomous movement, considered that Bitcoin e Ethereum have meanwhile seen a downward correction.

There was therefore a clear break above the $ 0,1350 and $ 0,1380 resistance levels. There was also a break above a crucial bearish trend line with a resistance near $ 0,1367 on the 4-hour chart of the XLM / USD cross, with the price then climbing above the $ 0,1500 level and stabilizing above. the simple moving average at 100 on the 4-hour chart.

The price then traded down to $ 0,1678, and is currently correcting lower. There has indeed been one of a few support lines in between, and XLM is now approaching the $ 0,1500 support zone. On the upside, the levels of 0,1550 and 0,1580 will be major obstacles to the token's bull road: a close above the recent high could however increase the chances of a steady rise towards the 0,1650 and 0,1720 levels. 0,1800 dollars. The next major milestone could be $ 0,2000, or even $ XNUMX.

However, if the price of XLM struggles to continue increasing its prices, it could therefore test the support of $ 0,1480. The 100 simple moving average on the 4-hour chart is also near the $ 0.1480 level. A sharp break below this zone could trigger a further decline, with the next key support at the $ 0,1300 level.

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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