StellarLumens to rally another 40% as...
Stellar Lumens’ [XLM] Price PredictionThe token had been trading within a range , but there was another way to see things. The $0.096 level was flipped to support on 7 July and sparked the vertical rally. This level had served as resistance since late April.The 1-day chart shows the powerful breakout past the range that Stellar Lumens bulls established earlier this month. On 13 July they also managed to drive prices past multiple higher timeframe highs.
The surge was backed by high trading volume, showing enormous demand and clear bullish intent. Over the past ten days, the bulls have succeeded in flipping the $0.154 level to support. At the time of writing XLM was trading just above this level. The structure and trend were bullish after the formation of the higher low at $0.124 on 17 July, followed by another move higher. The RSI showed strong bullish momentum and the OBV continued to climb higher.Coinalyze
While the higher timeframe charts highlighted a healthy bullish outlook, the 1-hour chart showed that XLM could see some consolidation in the coming hours or even days. Since 20 July, the Open Interest has slid lower while prices dithered around the $0.16 mark. The spot CVD also fell. This showed bearish sentiment in the past three days.Therefore, the shorter timeframes showed that continued selling pressure was possible. The 1-day chart signaled that there is support for XLM to the $0.138 zone, but further losses will flip the bias back to bearish.
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