Stellar

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/xlm-price-analysis-heres-how-xlm-price-can-soar-to-0-16/">XLM Price Analysis: Here’s How XLM Price Can Soar to $0.16?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Stellar Lumens (XLM), ranking in the top gainers for the second week, manages to ignore the bearish market. Currently, XLM price trades just a shade below the $0.13 mark with an intraday dip of 3.22%. 
Taking a deep dive into XLM price movement, a double-bottom reversal becomes evident in the daily chart. This pattern finds its bedrock at the significant support confluence of the 61.80% Fibonacci level, precisely at the $0.10 mark. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18-1024x463.png" alt="" class="wp-image-228673" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/11141628/XLMUSD_2023-09-11_13-48-18.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Over the past couple of weeks, XLM price presents a promising rally. Supported by its robust demand confluence, the cryptocurrency registered a notable ascent of 14% within a mere span of 10 days. Breaking past the $0.12 resistance, XLM is now teasing the $0.13 level. 
However, it hasn’t been all sunshine and rainbows. The evident Evening Star pattern, highlighted by the recent intraday drop of 3.22%, casts a shadow of doubt over the bullish narrative. 
Technical pointers: 
RSI: The RSI line for XLM exhibits optimism, steadfastly maintaining ground above the halfway mark. 
MACD: The MACD and signal lines are gearing up to cross above the zero mark, signaling bullish momentum. 
<h2 id="whats-next-for-xlm-price" data-name="whats-next-for-xlm-price" class="wp-block-heading">What’s Next For XLM Price?</h2> 
XLM price trend is at a crossroads. The current breakout rally structures suggest a bullish continuation, targeting the overhead resistance of $0.16, accounting for a 24% jump. 
However, challenges lie ahead. An immediate supply zone at $0.124 could be a minor speed bump in the XLM price uptrend. Furthermore, if the XRP price were to dip below the 38.20% Fibonacci level, it might retrace to the 200-day EMA at $0.11, a 15% decline.

XLM Price Analysis: Here’s How XLM Price Can Soar to $0.16?

Table of Contents

CoinPedia News

Other articles published on Sep 11, 2023

Bank of Japan Considers Tightening Monetary Policy Sooner, USD/JPY Dips

Investors Ditch PEPE for Hot New Pond Coin (PNDC), Spending Over $2 Million

How to Earn Passive Income Through GlobaleCrypto at Home

Investor who lost 8k Bitcoins in dump sues local council

Getting To Know Ethereum Virtual Machine (EVM)

Introducing the new and improved Evertwine: revamped & refueled!

Join our free newsletter for daily crypto updates!