THELOGICALINDIAN - Stellar XLM is trading in a bullish area aloft the 01000 abutment area adjoin the US Dollar XLM amount is acceptable to advance appear 01200 or alike college if it stays aloft the 01000 support
Stellar (XLM) is Holding Uptrend
This accomplished week, there was a able acceleration in bitcoin, Ethereum and ripple. As a result, arch (XLM) acquired clip aloft the $0.1000 and $0.1050 attrition levels adjoin the US Dollar. The amount alike acicular aloft $0.1100 and it traded as aerial as $0.1168 afore starting a downside correction.
The amount dived beneath the $0.1050 abutment zone, but the beasts were able to avert the $0.1000 and $0.0980 abutment levels. A beat low is formed abreast $0.0951 and the amount is currently rising.
There was a breach aloft the $0.1050 akin and the amount acclimatized able-bodied aloft the 100 simple affective boilerplate (4-hours). The beasts pushed the amount aloft the 50% Fib retracement akin of the bottomward move from the $0.1168 aerial to $0.0951 low.
The amount is now adverse hurdles abreast the $0.1120 level. It is abutting to the 76.4% Fib retracement akin of the bottomward move from the $0.1168 aerial to $0.0951 low.
It seems like there is a above bullish trend band basic with abutment at $0.1040 on the 4-hours blueprint of the XLM/USD pair. On the upside, the beasts charge to bright the $0.1120 akin for a beginning increase.
A acknowledged breach aloft the $0.1120 attrition could accessible the doors for added assets appear the $0.1180 and $0.1200 levels in the advancing sessions.
Dips Supported in XLM
If XLM amount corrects lower, the beasts are acceptable to assure the $0.1050 akin or the bullish trend line. If there is a breach beneath the trend band and $0.1050, the amount could extend losses.
The capital abutment is abreast the $0.1000 akin and the 100 simple affective boilerplate (4-hours), beneath which the amount ability about-face bearish in the short-term.
Technical Indicators
4-hours MACD – The MACD for XLM/USD is boring accident drive in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for XLM/USD is currently able-bodied aloft the 50 level.
Major Support Levels – $0.1050, $0.1040 and $0.1000.
Major Resistance Levels – $0.1120, $0.1180 and $0.1200.
