Stellar, one of the top 15 cryptos of the market, at the press time was trading at $0.112 with a complete bearish outlook. Stellar Lumens is on a continual rise after the massive sell-off in March and has gained nearly over 230% in 5 months as it trades above $0.100. The currency is already breaching 14-month high as it trades above $0.11.
Moreover, XLM/USD over the previous month has been trading above $0.10 with intermittent dips but is now holding a steep surge. After having traded laterally in the given 12-14 months, Stellar has regained the lost traction and is back on the track above the major resistance price area. However, we cannot ignore the intraday pullbacks due to the moderate volatile movement of the market at present.
At the time of penning down this analysis, Stellar price was trading at $0.112 with a bullish intraday crossover on the 4-hourly chart. Moreover, the price trend is drawing an uptrend on the same chart since the past week, and the bullish candlewick breached above the upper Bollinger Band. The coin is retaining complete support from the daily MAs at $0.105 & $0.100.
With a lack of steady traction, Stellar is facing a stringent resistance at $0.120, and alongside the major cryptocurrency by market capitalization—Bitcoin is also seen consolidating below $12k. A quick breakout soon is believed to take place as it happened in the previous month after a massive accumulation of BTC price as per Stellar Lumens price prediction. The MACD is drawing a bullish divergence on the 4-hourly chart due to intraday positive sentiments, while the RSI holds no extremities as it lies at 57.38.