Technical Analysis for XLMUSD for 3rd January 2023
Stellar Firm from $0.07 as XLM Trading Volumes Swell
Past Performance of XLM
Stellar Technical Analysis
Overall, XLM prices are bearish from a top-down preview. The primary support is at $0.07, flashing with December 2022 lows. On the other hand, primary resistance is at $0.077, coinciding with December 19 highs. Following the gains of January 2, aggressive traders can look to double down their positions, targeting the short-term resistance level. It is worth noting that prices are higher with rising trading volumes, a positive development. Further gains above $0.077 and middle BB may pump XLM towards December 16 highs at $0.082 as the coin bottoms up.
What to Expect from XLM
There are higher highs relative to the lower BB though the downtrend remains. Going forward, sellers remain in control, and XLM must clear the above immediate liquidation lines for buyers to establish themselves.
Resistance level to watch: $0.077
Support level to watch: $0.070
Disclaimer: Opinions expressed are not investment advice. Do your research.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
CryptoAltum does not accept any clients under the age of 18.