The current bull run may gain momentum if the 20- and 100-day EMAs cross in the bullish direction. The Stellar price rebound needs to be confirmed by a positive breakout from $0.13. The XLM's $270.5 Million intraday trading volume, which represents a 137% rise.
The purchasers of XLM demonstrate their dedication with a bullish breakthrough from the descending triangle formation.
When this pattern is finished, coin holders should experience a powerful directional rally. However, the $0.13 threshold continues to be a significant obstacle to Stellar's price growth.
The current bull run may gain momentum if the 20- and 100-day EMAs cross in the bullish direction. The Stellar price rebound needs to be confirmed by a positive breakout from $0.13. The XLM's $270.5 Million intraday trading volume, which represents a 137% rise.
For the previous four months, the Stellar price has exhibited a declining triangular pattern. The fact that the altcoin repeatedly tested the neckline support of $0.1 and the downsloping trendline of the pattern shows that traders are paying attention to these levels.
However, once the prices breach the support neckline, this price pattern favours the continuation of the current decline. Rarely, though, the price can disprove this bearish prediction if buyers manage to break through the above trendline.
The announcement of US unemployment figures recently caused a sell-off in the cryptocurrency market, but the price of Stellar has maintained a steady comeback. Altcoin made a bullish breakout from the above trendline, supported by increasing volume activity.
The $0.13 level, however, can present a significant barrier for coin purchasers because it has constrained bullish gains over the last three months. As soon as the given daily candle closes above $0.13, safe traders can enter.
Technical indicator
Bollinger band: The fact that the price of Stellar has crossed the upper band indicates that more people are buying than usual. The trendline of this indicator should induce consolidation over the $0.15 resistance.
RSI: A positive rebound is supported by the market sentiment, which is indicated by the daily-RSI slope displaying a price action that resembles growth.
