Stellar Lumens [XLM] recently experienced a 5% hike in the past 24 hours, as the cryptocurrency market began a slight rally. However, post the rally, XLM seems to have a tough time finding its feet with respect to market movement.
The $0.294 – $0.258 and the $0.282 – $0.258 lines present resistances for the coin’s next rally. The $0.246 – $0.238 uptrend forms a contrast to the downtrends, with $0.258 providing a key resistance.
The EMA is at $0.25, and is providing a support for the price.
The RSI is recovering from the overbought zone, which is generally considered to be a bearish sign.
The Klinger Volume Oscillator is set to cross when the oscillator is moving downwards, which also represents a bearish sign.
The MA is providing a resistance at the $0.245 mark, with the $0.294 – $0.258 and $0.238 -$0.251 trend lines geared for a breakout.
The MACD is moving together, with the histogram tending towards 0. This means that a convergence is likely to occur soon.
In the double Bollinger Bands set up, the price is moving in between the basis line and the first SD green zone.
The $0.283 – $0.258 and the $0.206 – $0.232 lines are set up for a breakout.
The EMA at $0.25 is providing a support line.
The Chalkin Money Flow indicator is negative, showing that the selling pressure is more than the buying pressure.
The ADL is moving in the opposite direction of the trend and signifying a reversal, as volume precedes price movement.
The $0.206 – $0.252 and $0.281 – $0.252 lines contrast with the $0.333 – $0.281.
XLM is showing signs of bullish momentum, but only if selling pressure decreases. The core breakout to look for remain at the $0.28 and $0.33 marks.
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