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Stellar Lumens price forecast: is the XLM price still recovering?



 XLM price has risen relatively little since bottoming out at around $0.1. Will XLM Price Recover Now?


The XLM course was bearishly rejected at the golden ratio resistance

XLM price rose to around $0.1385 after establishing a bottom around $0.1. It was then rejected in a bearish manner at the golden ratio around $0.135, after which the XLM price returned to the 50-day EMA at around $0.12. The XLM course has been able to bounce off this bullishly so far and Stellar could now make its way back to the golden ratio at around USD 0.135.


If Stellar Lumens breaks the golden ratio resistance, the next significant resistance awaits Stellar between USD 0.153 and USD 0.165, where Stellar encounters the 0.382 Fib resistance and the 200-day EMA.


Furthermore, the MACD is rather bearish in the daily chart. The MACD lines are still bullishly crossed, but the histogram has been ticking bearishly lower for a few days. The RSI is neutral.


The XLM price could establish a death cross in the weekly chart

In the weekly chart, the MACD histogram has been ticking bullishly higher for weeks and the MACD lines are also bullishly crossed. Still, the EMAs are getting dangerously close, which could set them up for a death cross. This would confirm the bearish trend in the medium term. In contrast to these bullish and bearish signals, the RSI is also neutral here.


Is history repeating itself for Stellar Lumens?

In the monthly chart, the MACD histogram starts ticking bullishly higher this month. The last time this happened after a long downtrend, the XLM price established a local high at around $0.17 before falling even lower. The XLM price fell to around USD 0.026 and thus suffered an enormous price loss. The XLM price then rose to around USD 0.58 during the last bull run to the golden ratio.


Interestingly, the 50-month EMA is located at around USD 0.17 at this local high, which acts as a significant resistance. In fact, history may repeat itself and Stellar Lumens price hits $0.17 only to drop even lower and find a bottom thereafter.


The Stellar Lumens course could then open up to the golden ratio at around USD 0.58, the break of which is fundamentally decisive for the further course. Because without breaking the golden ratio around $0.58, Stellar Lumens is inevitably in a long-term downtrend.


On the other hand, if the Stellar Lumens price breaks the 50-month EMA in a bullish manner and closes above it this month, this scenario is unlikely and Stellar may then have bottomed out around $0.1.


The MACD is bullish on the monthly chart against BTC

The MACD in the monthly chart is clearly bullish against BTC. The histogram has been ticking bullishly higher for several months and the MACD lines are also bullishly crossed. The RSI is neutral.


Stellar Lumens price is located in a symmetrical triangle with the 50-month EMA and the 0.382 Fib level marking the upper resistance, the break of which would result in a bullish breakout. If the XLM price breaks the resistance at around 0.0000086 BTC, Stellar could rise to around 0.000012 BTC.


On the downside, significant support awaits Stellar Lumens price between 0.0000032 and 0.0000044 BTC.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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