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XLM Price Prediction: Stellar Lumens bearishly dismissed again



 The XLM course was rejected again bearishly at the Golden Ratio resistance. But against BTC, the Stellar Lumens course is bullish.


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

The last XLM course forecast was already 6 weeks ago. At the time we wrote: “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, next significant resistance awaits Stellar between $0.153 and $0.165 where Stellar faces the 0.382 Fib resistance and the 200-day EMA.”


The XLM course was rejected again at the Golden Ratio resistance

The XLM course again made its way to the golden ratio at around USD 0.135, but was rejected in a bearish manner. As a result, the Stellar Lumens price could now correct to the golden ratio support at the 50-day EMA at around USD 0.115, only to bounce off it sharply.


The daily chart still has the EMA's death cross intact, confirming the trend bearishly in the short to medium term. Also, the MACD histogram is ticking bearishly lower and the MACD lines may soon cross bearishly. The RSI is neutral.


In addition, the Stellar Lumens price hit the yearly low of around USD 0.0983 in September, instead of establishing a higher low like many other cryptocurrencies .


The histogram of the MACDs is also ticking bearishly lower in the 4H chart. In addition, the MACD lines are bearishly crossed here and the RSI is giving neither bullish nor bearish signals. What is bullish, however, is that the EMAs have established a golden crossover, which confirms the trend as bullish in the short term.


The bearish trend line has not been broken yet


XLM price chart from Tradingview

The monthly chart shows the bearish trend line, which has not been broken since it peaked at around USD 0.8. If Stellar Lumens price breaks this trendline, XLM may attempt to target Fib resistances around $0.366 and $0.54.


A bullish trend reversal will not be complete until XLM clears the golden ratio at around $0.54. Until then, the trend remains clearly bearish.


What is bullish, however, is that the MACD histogram has been ticking bullishly higher for the last month. In addition, the XLM price has been at a similar price level for four months as far as the monthly closing prices are concerned. This could be a sign of a bottoming out.


A death cross is looming on the weekly chart

In the weekly chart, on the other hand, a death cross is imminent, which would confirm the trend in a bearish medium-term . The EMAs run between 0.382 Fib resistance at around USD 0.153 and Golden Ratio resistance at around USD 0.19.


There are the next significant resistances if the XLM price breaks the bearish trend line. In addition, the MACD in the weekly chart is clearly developing bullishly, because the histogram has been ticking bullishly higher again since last week and the MACD lines are bullishly crossed.


So, the MACD is giving opposite signals to the EMAs' looming death cross. Without a break of the bearish trendline, XLM's medium-term trajectory is likely to look rather bearish.


Against BTC, the XLM course is rising sharply this month


The Stellar Lumens price is very bullish this month against BTC . The MACD histogram has been ticking bullishly higher for several months and the MACD lines are also bullishly crossed. In addition, the XLM course bounced off the support between 0.0000032 BTC and 0.0000044 BTC a few months ago and has been on an upward trend ever since.


The Stellar Lumens price faces the next significant resistance at the 50-month EMA at the 0.382 Fib level at around 0.0000085 BTC. In addition, at around 0.0000115 BTC, significant Fib resistance awaits at the golden ratio.


For a bullish trend reversal, Stellar Lumens price needs to clear the golden ratio at around 0.000043 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 taken by the reader based on the information found on our website is entirely at their own risk.

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