- XLM has formed a haussearted flag pattern, with a potential breakout aimed at $ 1.80
- Technical indicators and liquidity data are suggested to a strong upward momentum for XLM in the short term
Stellar (xlm) Have shown promising signs of upwards later, with Altcoin probably on the verge of a breakout to $ 1.80 as well.
In fact, technical indicators and the price measures seemed collectively suggesting that the Altcoin market has Hausse. Therefore, the question – XLM succeeds in breaking through important resistance levels and meeting this goal?
XLM Price measure – What drives the price movement?
At the time of writing, XLM dealt to $ 0.3574 after an increase of 0.17% over the past 24 hours. The Altcoin price has been consolidated in the range $ 0.35 and $ 0.37 – a sign of resilience when it was stuck above key support levels.
Crypto has had resistance of $ 0.37, with other critical levels to $ 0.44 and $ 0.50. If the price holds over $ 0.35 and breaks through these resistance levels, XLM can potentially target $ 1.80.
Therefore, in the coming days, XLM’s price movement will be crucial to determine whether or not the haus -like flag formation leads to a breakout.
Source: Tradingview
XLM Social Volume and Dominance – How does the marketing term shape?
XLM’s social volume and dominance have also decreased, with social dominance drops to 0.28%. This may indicate a decrease in investors’ attention to crypto, which can dampen short -term price movements.
However, according to historical trends, these measurement values are often reactive to price changes.
As XLM pushes higher and breaks resistance levels, the social volume can increase and rule the interest from the broader crypto community. Therefore, while the social measurement values for press time can be low, they are likely to switch if price measures support an outbreak.
Source: Santiment
Does the diagrams sign a haussey push?
At the press time, XLM’s RSI was set at 47.76 – a neutral reading that suggested that the coin was neither over -bought nor oversold. However, a move over the 50 mark would mean that buying speed has been built up.
In addition, the MACD crossed the indicator above the signal line – indicating a haisseatic on the marketing entry. These technical indicators together confirm that XLM may be able to potentially break higher.
Source: Tradingview
The liquidation heat maps – what do traders expect?
Finally, liquidation heat map for XLM revealed a significant concentration of liquidations around $ 0.36 level. This concentration suggested that XLM could face some resistance at this price level. However, it also suggested that a breakout could trigger a wave of liquidations and squeeze the price higher.
Liquidation events often lead to volatility, which can drive the upward momentum required for Star to hit higher goals.
Source: Coinglass
