Technical Analysis: Stellar (XLM) Price Consolidates After Bullish Move
Stellar (XLM) is now consolidating as most of the other altcoins have taken a similar course in recent days. XLM is currently down 2.3% on the day to $0.638, but this shouldn’t be concerning for bulls as anything above $0.059 is a higher low.
This consolidation comes after the daily EMAs made a bullish cross, which means the bulls will need to regain momentum if they want to keep the EMAs crossed moving forward.
The daily RSI is stable at around 53 points and all major technical indicators are signaling a buy. The moving averages are also saying buy and oscillators are signaling buy or wait.
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Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.