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Can XLM Price Hit $0.09 Resistance In October? Traders Explain The Current Trends

Price Predictions
Tue, 10/15/2019 - 22:30
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Vera Yurina
Will XLM price hit $0.09 resistance in October? TradingView users share their opinions and XLM price predictions with us
Can XLM Price Hit $0.09 Resistance In October? Traders Explain The Current Trends
Cover image via www.tradingview.com

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Stellar Lumens is staying on the current level without showing signs of improvement, but traders say that changes are slowly coming. What does it mean? Will XLM overcome the resistance areas and enter the bullish area before 2020 starts? Let’s check the technical analysis and read XLM price predictions from TradingView users.

Bullish season is coming for XLM
Stellar Lumens (XLM) price chart by TradingView

If we look at this weekly chart we will see that there’s a bullish divergence on the RSI. It means that the price is decreasing while the RSI is increasing. That's a pretty big bullish signal. It’s very likely that the bulls are taking positions for a new bull run.

But when the breakout should happen? Seems like it won’ happen earlier than in a few weeks, and other XLM price predictions prove that.

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The trend will reverse in Q4 2019

XLM trend reversal area
Stellar Lumens (XLM) price chart by TradingView

As we can see on the price chart from UTS_Trader, XLM should reach the reversal area for the current price to change. It’s located in the $0.09 price zone and higher. Thus, XLM price won’t grow sufficiently until the 9-10 cent area is reached.

Some traders say that RSI means nothing now. The breakdown point RSI was oversold and traders thought it can pump easy now and didn’t want to buy cause RSI was overbought. 

The price spike at everyone is waiting for would bring XLM to 3000 satoshi resistance area. We shuld also watch for the BTC run coming with XLM together (which won’ happen earlier than the next week).

We are doing falling wedge on 4 hr chart, so if the chart is same falling wedge completes around October 15th at 0.056 and pump comes, it looks like on that chart also it went previous week low 0.056 will be the previous week low. RSI can spike on weekly chart now it is ready to go.

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About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions, can be contacted at vera.yurina@u.today