Technical Analysis for XLMUSD for 8th November 2021
Stellar Lumens in Range, will XLM Bulls Clear $0.40 for a Potential 2X?

Past Performance of XLM
The Stellar Lumens price is in an extended consolidation spanning weeks.
Currently, XLM/USDT prices have resistance at $0.40 or October 2021 highs with support at around $0.30—the October 27 low.
Despite the accumulation, buyers have a chance since there have been a series of higher highs in the past few days in a rising wider wedge.
What to Expect of XLM
XLM technical analysis points to indecision as XLM/USDT oscillates in a tight $0.10 zone with identifiable caps at $0.40 to the upside and $0.30 to the lower end.
Besides, the middle BB acts as a liquidation line.
Still, a high volume--preferably wide-ranging--close above $0.40 would nullify bears, setting the base for a possible leg up towards $0.80—the H2 2021 high.
Stellar Lumens Technical Analysis
The XLM price is at a critical juncture near Q3 2021 highs. Notably, XLM/USDT prices are within the September 7 and October 27 bear candlesticks.
These bars are with high volumes and wide-ranging, influencing the trend.
Therefore, a close above $0.40 will shake off selling pressure, relieving XLM buyers.
In that eventuality, the resulting demand may drive XLM prices to $0.80—for a 2X rally.
However, a dump below $0.30 and October 27 low would slow down sellers, forcing a sell-off towards critical reaction levels at $0.25—September 2021 lows—and $0.20—Q3 2021 lows.
Resistance level to watch: $0.40
Support level to watch: $0.30
Disclaimer: Opinions expressed are not investment advice. Do your research.
For more interesting tips and facts visit our Education Centre.
Have Questions?
We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!
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.