Stellar Price Prediction for Today, April 20 – XLM Technical Analysis

The Stellar price prediction is recovering from the daily opening price at the $0.112 level as the price begins the upward movement.

Navigating Obstacles: Stellar Lumen (XLM) Price Recovery Challenges at $0.1150

Following a consistent uptrend, Stellar lumens encountered a rejection around the $0.1365 mark against the US Dollar. This led to the XLM/USD pair dipping below the $0.1200 support level and testing the $0.1150 area. A potential uptick may occur if the pair convincingly breaks above the $0.1200 resistance zone.

Stellar Prediction Statistics Data:

• Stellar price now – $0.113
• Stellar market cap – $3.2 billion
• Stellar circulating supply – 28.9 billion
• Stellar total supply – 50 billion
• Stellar Coinmarketcap ranking – #32

XLM/USD Market

Key Levels:

Resistance levels: $0.150, $0.160, $0.170

Support levels: $0.075, $0.065, $0.055

XLM/USD is likely to cross above the 9-day and 21-day moving averages after touching the daily high at the $0.114 resistance level. At the time of writing, Stellar is changing hands at $0.113, having gained over 0.99% since the beginning of the European session. However, with latest the recovery, the coin is likely to head toward the upper boundary of the channel to increase the bullish movement.

Stellar Price Prediction: Can XLM Break Above $0.120?

The Stellar price stays within the 9-day and 21-day moving averages at the price level of $0.113. However, if the bulls begin the upward trend, XLM/USD may likely touch the resistance levels of $0.150, $0.160, and $0.170 to push the price to the upside. In other words, any strong selling pressure below the 9-day moving average could drag the price toward the lower boundary of the channel if the bears step back into the market.

However, in case Stellar trades below the moving averages, a bearish continuation could bring the price to the supports of $0.075, $0.065, and $0.055. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross above the 70-level, indicating a possible bullish movement.

XLM/BTC Could Head to the North

Against Bitcoin, the Stellar price is heading to the north as the coin moves above the 9-day moving average. However, following the recent positive sign, the current market movement may begin to follow an uptrend if the buyers push the price above the upper boundary of the channel.

Moreover, as soon as the buyers increase the bullish pressure, the market price could hit the resistance level of 215 SAT and above. Meanwhile, a retest below the 9-day moving average could lower the price to the support level of 140 SAT and below.

Nevertheless, @WHALES_CRYPTOx shared insights with his followers on X (formerly Twitter), indicating that the Cup & Handle pattern for $XLM is nearing completion, signaling an imminent breakout 🚀. Get ready for potential price action as the market prepares for a significant move in XLM’s trajectory!

💰 #xlm/usdt

Cup & Handle is almost completed💁‍♀️

Breakout is imminent✈️

👇Crypto Traders-join Telegram👇https://t.co/caOlZBzS3k pic.twitter.com/MipyVtud7p

— Whales_Crypto_Trading 🐋 (@WHALES_CRYPTOx) April 20, 2024

Stellar Alternatives

The Stellar price is holding steady within a specific range, suggesting potential buyer momentum towards the $0.115 resistance level. Confidence in the recovery phase is crucial, with a target of $0.120 in sight. Meanwhile, Stellar (XLM) is recognized for stability with a $3.2 billion market cap. In contrast, the Dogeverse presale phase has amassed above $8.3 million, offering investors consistent returns and growth potential.

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