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You are here: Home / Opinion / Market Analysis / Stellar XLM price analysis for June 13, 2019: Mobile averages not that sweet
Stellar XLM price analysis

Stellar XLM price analysis for June 13, 2019: Mobile averages not that sweet

June 13, 2019 by Saeed Ul Hassan

It’s a relatively stable day for Stellar Lumens’ Lumen token, which trades under the symbol XLM. The cryptocurrency is up by 0.20% over the last day and by 3.80% for the week. The coin’s price is fluctuating. As we write this, it’s trading at $0.12643, and it’s trending up. Let’s see what technical analyses tell us for the following day and month.

24-hour technical analysis

The good news is that everything looks green for the daily analysis. The price is above the pivot point and just a bit under the resistance level, $0.12645, so the market for XLM seems to be bullish. This intuition is confirmed by hard data telling us that the XLM market is made up of 96% buyers.

The price is close to the first resistance level. In today’s case, the Fibonacci and the classic resistance levels are pretty much the same with only a 0,0001 difference. It’s very little room for appreciation, but the room is there, and we should take the monthly resistance into account before we make any decision.

Stellar Lumens technical price analysis chart
Source: CoinMarketCap

Indicators are green at the tune of six against two, but mobile averages are not that sweet because five indicate sell and seven go for buying, so it’s a bit of a crossroads.

Overall, the whole daily picture favors the bulls.

Monthly technical analysis

The monthly picture is not as bullish. The price is a tiny bit under the pivot point, which would slightly favor the bears even as we are seeing the price rising slowly but steadily.

On the other hand, XLM has had few high trading volumes and, when they’ve occurred, they’ve been decidedly green. Also, the Bollinger bands are still quite wide, so they allow for high volatility, so the trend isn’t sideways for now. It remains quite difficult to see what the actual pattern is, but there is one, and it seems to be green, but it’s quite slow.

Moving averages favor the bulls, but most technical indicators are for the bears.

Outlook

Most cryptocurrencies grow in value for about 10 days out of 365. It’s not written in stone, but that’s how it is. The trick is to get in the action when those 10 essential are in. Today is not one of those days.

If you’re willing to go long-term Stellar is for you today as always. If what you want is to make a profit in the next few hours you will need to look for greener numbers elsewhere.

Filed Under: Market Analysis Tagged With: Price Analysis, Stellar (XLM)

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