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CryptocurrencyNewsPrice AnalysisStellar (XLM)

Stellar Lumens (XLM) At Crucial Stage amid Imminent Golden Cross

Briefly-

  • $XLM challenges crucial support level, a rebound looming?
  • A study suggests Stellar is the most environ-friendly digital coin.
  • RSI remains bullish as a golden cross might be on the cards.

Stellar (XLM/USD) retains its bearish pressure during Sunday’s sessions, though, hovering inside Friday’s range of $0.40 to $0.36.  For now, XLM’s price poses for a 1.50% plunge to stand near $0.3730, awaiting massive triggers for the upcoming big price move.

Stellar Lumens might receive the vital motivation from the study steered by Forexsuggest. The research shows Stellar is the most environmental-friendly crypto, Ripple competitor that needs 0.00003KWh in each transaction, a third of requirements by IOTA. Stellar requires 0.00072 oz of CO2 in each transaction, which is far less than BTC’s 1,060 lbs in each transaction.

XLM’s Technical Graph

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According to the daily chart by Stellar Lumens, the altcoin has tested commitments by bulls near the horizontal 21-DAM during the previous week. Today, the 21 daily Moving Average and the climbing trend-line support that connects the high lows since 27 October coincides. The sturdy defense line awaits in the $0.371 mark.

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A daily close under that level will mean extra enthusiasm to XLM bears as they may plan to extend the latest downward trend to the horizontal 200-day Moving average at $0.3568. The upward trend 50-D Moving Average closes in at that level. More downward action can see the alt at the slightly bullish 100-D moving average at $0.3455.

However, XLM buyers appear to weigh on bears’ chances for now as the 50-day moving average aims to cross the 200-day moving average to the upward. If daily closing sees this materializing, the alternative coin will confirm a golden cross, indicating massive bullish gestures.

XLM has chances to rebound to the 5-month peaks of $0.4436.Before that, the psychological magnate at $0.40 might hinder the recovery mood. The 14-day RSI shows southward actions though hovers beyond the central line, supporting the bullish determination.

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The crypto space seems on a recovery mood led by Bitcoin after the latest correction. Overall market recovery will see assets, including XLM moving up. Stay tuned for updated crypto news.


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James Carr (Australia)

James is a new research writer for Tokenhell. His articles include broker and exchange reviews, guides and news from all over the crypto-verse. Stay tuned for his recent articles.

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