Stellar (XLM) Technical Analysis 2021 for Crypto Traders

Stellar is the world’s fastest and most scalable cryptocurrency. XLM has been on a tear this year, outperforming Bitcoin by over 300% in 2018. Here’s what to expect for the future of Stellar.

The can stellar lumens reach $10,000 is a question that has been asked for a while. In 2019, the price of Stellar Lumens reached an all-time high of $0.25 USD.

We utilize historical data, price trends, RSI, and other information about XLM to evaluate the cryptocurrency’s future movement in Technical Analysis of Stellar (XLM) for 2021. 

In July of 2014, Stellar was released. It’s a public network that allows people to send and receive money. Its primary aim at the time of inception was to energize financial inclusion by reaching the world’s unbanked. Later, its goals shifted to assisting financial companies in connecting with one another through blockchain technology.

Current Market Situation for Stellar (XML)

At the time of writing, the Stellar price was $0.411 with a 24-hour trading volume of $2,080,251,465 according to CoinGecko. XLM, on the other hand, has dropped 15.4 percent in the past 24 hours.

Furthermore, XLM has a total quantity of 50,000,000,000 and a circulating supply of 23,107,442,314 XLM. XLM is now available for purchase on Binance, Huobi Global, OKEx, FTX, and CoinTiger.

Stellar (XLM) Technical Analysis 2021 

Stellar (XLM) may be pushed to new heights by current development and improvements. Let’s take a closer look at the Stellar (XLM) technical analysis for 2021. 

XLM is currently ranked 16th on CoinGecko. The weekly chart of Stellar (XLM) is shown below.

Weekly Time Frame Chart for XLM/USDT (Source: TradingView)

In 2019, XLM creates a consolidation zone between $0.19 and $0.29, as seen in the chart above. The consolidation zone, on the other hand, refers to the currency bouncing between a set of trading levels. 

Furthermore, the price of XLM has fallen to $0.29 this month. Since touching the last consolidation level, the XLM price has been on an uptrend. This implies that the price of XLM has reversed.

Stellar (XLM) Technical Analysis 2021 for Crypto TradersDaily Time Frame Chart for XLM/USDT (Source: TradingView)

Above is a daily time frame chart of Stellar (XLM). XLM made a high buyer’s volume two times before the current collapse, according to the chart. Furthermore, as a consequence of the recent crypto market collapse, XLM holders panicked and sold the currency in large volumes. 

However, this volume is still smaller than that of the buyer. This is just panic selling of XLM, and many people still retain the currency. Furthermore, the XLM has moved into a bull trend, creating a large tail at the demand area. This suggests that there are more customers at this price point.

RSI, MACD, and MASS for Stellar (XLM)

The Moving Average Convergence/Divergence (MACD) of XLM is seen in the chart below. The MACD (blue) remains slightly below the signal indication, which is noteworthy (orange line). As a result, cryptocurrency traders may anticipate more negative days in the future. 

If the MACD starts to rise above the signal indication and executes a bearish crossing, on the other hand. The cryptocurrency then has a good chance of hitting fresh highs.

Stellar (XLM) Technical Analysis 2021 for Crypto TradersMACD and XLM RSI (Source: TradingView)

Let’s take a look at XLM’s relative strength index (RSI). The RSI stays at 37, as seen in the graph above. This indicates that the price of XLM is almost oversold. This, on the other hand, provides dealers the confidence to trade without fear.

The chart below shows the 200-day Moving Average (MA) for XLM. Notably, the 200-day MA is one of the most significant support levels for determining the market’s overall long-term trend.

Stellar (XLM) Technical Analysis 2021 for Crypto Traders200-Day MA for XLM/USDT (Image courtesy of TradingView)

The fact that the signal is moving in a positive direction and remains above the 200-day MA suggests that the market is in an overall uptrend. If the signal indication falls below the 200-day moving average, the market is in a downtrend.

The XLM price has clearly exhibited numerous bullish patterns since the beginning of 2021. Furthermore, if all of these factors are taken into consideration, XLM may have a competitive market in 2021.

Conclusion

With the continuing improvements and enhancements to the XLM platform. In current crypto market, the coin XLM has a bright future. However, it’s conceivable that XLM may soar to new heights.

$1.5 is the bullish XLM price forecast for 2021. As previously said, it has the potential to reach tremendous heights, including $5 if investors believe that XLM is a solid investment in 2021.

FAQ

What is the best place to buy XLM?

Binance, Huobi Global, OKEx, FTX, and CoinTiger are just a few of the cryptocurrency exchanges that have XLM listed. In which the cryptocurrency may be exchanged for fiat money, stablecoins, and other cryptocurrencies.

Will XLM soon hit a new high?

With the XLM platform’s continuous development and improvements, it has a good chance of achieving its ATH shortly.

Is the Stellar Network a safe place to be?

The Stellar Consensus Protocol is used to secure this network, and it has four key properties: decentralized control, low latency, flexible trust, and asymptotic security.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

You’ve been recommended

Stellar is a decentralized platform that facilitates cross-border transactions. The stellar (xlm news 2020) is a cryptocurrency that has been in the market for over 4 years and has been one of the most successful cryptocurrencies to date.

Frequently Asked Questions

Is Stellar lumens a good buy 2021?

 

Can Xlm reach $100?

I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.

How high can stellar lumens GO 2021?

Stellar lumens are a cryptocurrency that is not yet traded on any exchanges, so it cannot be determined how high they can go.

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