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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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XLM price could break a major resistance in the next 24 hours!
After the positive decision in the Ripple vs SEC case that Ripple (XRP) was not considered a security, the price of many cryptocurrencies such as XLM has seen an increase. But as we enter the weekend, the majority of cryptos seem to be trading in the red once again and the same can be said for Stellar (XLM).
XLM maintains its weekly performance!
He noted that XLM was trading at $0.1342 at press time after a price drop of 11.63 percent in the last 24-hour trading time. This left crypto trading slightly closer to the daily low of $0.1277 than the 24-hour high of $0.1529.
Also, XLM's 24-hour trading volume has dropped more than 64 percent over the past day. As a result, the altcoin's volume was around $419,725,228. Despite XLM's recent price drop, its weekly performance has remained in the green, up 38.16 percent.
XLM price settled below the main support level at $0.1411 in the past 24 hours and continued to trade below this mark at press time. However, a bullish hammer candlestick was forming on the altcoin's 4-hour chart. If this pattern is confirmed at the close of the last 4-hour candle, it will indicate that XLM's price has bottomed out.
If this candlestick pattern is confirmed, the altcoin's price could rise above the aforementioned $0.1411 level in the next 4-8 hours. If the altcoin manages to challenge this price point, it will have a clear path to rise to $0.1551 in the next 24 hours.
On the other hand, if the last 4-hour candlestick does not close as a hammer formation, the altcoin may be at risk of losing the $0.1285 support in the next 8-12 hours. In this scenario, continued selling pressure could bring the price of the coin down to $0.1114 in the next 24 hours.
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