In Stellar (XLM) Technical Analysis 2021, we use past statistics, price patterns, RSI, and much other information about XLM to analyze the future movement of the cryptocurrency.
Stellar was launched in July 2014. It is an open network that enables cash to transfer and store. At the launch, its main goal was energizing financial inclusion by achieving the world’s unbanked. Later, its priorities changed to help financial firms connect with one another through blockchain technology.
Stellar (XML) Current Market Status
According to CoinGecko, the Stellar price is trading at $0.411 with a 24-hour trading volume of $2,080,251,465, at the time of writing. However, XLM has decreased by 15.4% in the last 24 hours.
Moreover, XLM has a circulating supply of 23,107,442,314 XLM and a maximum supply of 50,000,000,000. Currently, XLM trades in Binance, Huobi Global, OKEx, FTX, and CoinTiger.
Stellar (XLM) Technical Analysis 2021
The recent development and upgrades might push Stellar (XLM) to reach new heights. Now, let’s deep dive into the Stellar (XLM) technical analysis 2021.
XLM holds 16th position on CoinGecko right now. The weekly time frame chart of Stellar (XLM) is shown below.
The above chart shows in the range of $0.19 and $0.29, XLM forms a consolidation zone in 2019. However, the consolidation zone refers to the coin oscillating between a well-defined pattern of trading levels.
Moreover, this month XLM price has dropped to $0.29 level. XLM price shows uptrend from that level, since it touched the previous consolidation level. This indicates the price reversal of XLM.
The daily time frame chart of Stellar (XLM) is shown above. The chart shows XLM has made a strong buyer’s volume two times before the recent crash. In addition, due to the recent crash in the crypto market, the XLM holders panicked and sold the coin, resulting in high volume.
However, this volume level is still less than the buyer’s volume. This indicates only the panic selling of XLM, and still many hold the coin. Added to this, the XLM has moved to show a bull trend, as a result forming a big tail at the demand area. This indicates there are more buyers at this level.
Stellar (XLM) RSI, MACD, and MA
The below chart shows the Moving Average Convergence/Divergence (MACD) of XLM. Notably, the MACD (blue) continues to stay just below the signal indicator (orange line). This means that cryptocurrency traders can still expect more bearish days ahead.
In contrast, if the MACD begins to move above the signal indicator and performs a bearish crossover. Then the crypto has a high possibility of reaching new highs.
Now let’s look at the relative strength index (RSI) of XLM. As shown in the chart above, the RSI remains at level 37. This shows that XLM’s price is in a nearly oversold state. However, this gives confidence for the traders to trade without any fear.
XLM’s 200-day Moving Average (MA) is shown in the chart below. Notably, 200-day MA is one of the important support levels used to determine the overall long-term run of the market trend.
Since the indicator shows a bullish move and stays above the 200-day MA, this indicates an overall uptrend. In contrast, if the signal indicator drops below the 200-day MA, the market shows an overall downtrend.
From the beginning of 2021, it is clear that the XLM price has shown many bullish patterns. Furthermore, taking all these into account, XLM could have a competitive market in 2021.
Conclusion
With the ongoing developments and upgrades that are taking place within the XLM platform. The cryptocurrency XLM has a fantastic future ahead in this crypto market. However, it is possible to see XLM reaching new heights.
Bullish XLM price prediction 2021 is $1.5. As said above, it may reach great heights, however reaching $5 if investors have decided that XLM is a good investment in 2021.
FAQ
Where can you purchase XLM?
XLM is listed on many cryptocurrency exchanges that include Binance, Huobi Global, OKEx, FTX, and CoinTiger. In which the crypto is available to be traded against fiat currencies, stablecoins, and other cryptos.
Will XLM reach a new ATH soon?
With the ongoing developments and upgrades within the XLM platform, it has the high possibility of reaching its ATH soon.
Is the Stellar Network Secured?
This network is secured utilizing the Stellar Consensus Protocol, which is explained with four main properties such as decentralized control, low latency, flexible trust, and asymptotic security.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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