Stellar (XLM) Targets $0.20 From $0.12: Can Stellar Break All The Resistances Along The Way?

stellar lumens

The Stellar chain and the Stellar explorer has become extremely popular in recent time. The Stellar development foundation has been able to establish itself, the Stellar chain, Stellar explorer, and the Stellar Lumens (XLM) token. Yesterday, our Stellar Lumens news was about how much progress the XLM token made last month with the Stellar airdrop and other moves by the Stellar development foundation. The Stellar price forecast was that Stellar would most likely double the gains it made in March this April. Keep in mind that XLM increased by more than 27% in March. So, we are targeting about 58% in April.

Stellar Lumens News Today – Stellar Airdrop – Stellar Chain – Stellar Explorer And The Stellar Lumens Current Price

A cryptocurrency price analysis on Investingblockchain.com suggested that Stellar Lumens (XLM) will rise by 58% this month and hit the $0.20 level. Keep in mind that at the time of writing, the price of XLM was $0.124563. This means that it is down by 0.24% against the USD and down by 1.05% against the price of BTC. The trading volume on CoinMarketCap is $2,400,284,935 and the market capitalization is $326,747,865. To be fair, the price of Stellar Lumens (XLM) was green yesterday and even this morning. The fact that it is red now shows that it is preparing for another surge by gathering momentum.

Within the last seven days, XLM is up by 18% against the USD. Over the last 30 days, it is up by 46% against the USD. So, a minor pullback isn’t something anyone should worry about yet. The Stellar Lumens news today predicts a bullish price action for XLM this month. This is because during the latest Bitcoin bull run, the price of Stellar broke above the 100-dag MA and stayed above it for days. The price of Stellar has not been able to do this since last November after the Bitcoin Cash hard fork war.

Another reason why the Stellar Lumens news today is positive is that the price of XLM has recorded a fresh high of $01378 this year and it has been reaching higher highs since then. So, the odds are in the favor of the bulls.

Stellar Lumens News Today: Stellar Lumens (XLM) Technical Analysis

Stellar broke out of the extended bearish cycle in February. After that, it started moving higher against the USD with occasional downward corrections. The first time the price of Stellar Lumens (XLM) broke above the 100-day moving average was in March. However, it fell below it after about two days. It was only during this last Bitcoin bull rally that Stellar was able to hit and sustain its hold above this level for fours days in a roll.

Stellar (XLM) Price Today – XLM / USD

NamePrice
bitcoin
Bitcoin
$8,225.63-3.67%
stellar
Stellar
$0.067-6.99%

As the price of Stellar aims for the $0.20 level, it will meet resistances at $0.1348, $0.1450, $0.15, $0.16 and $0.17. Breaking above the resistance at $0.17 will be the ultimate goal. After that, XLM will hit $0.20 without any resistance. As long as the price of XLM remains above the support at $0.10, it’s safe to say that the bulls are still in control of the market.

What do you think about the Stellar Lumens news today? Will the Stellar (XLM) price be able to rise by 58% and hit the $0.20 level this month? Share your thoughts about Stellar in the comment section.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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