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Bulls remain more powerful than bears on the first day of the week, according to CoinStats.
XLM/USD
The price of Stellar (XLM) has gone up by 3.56% over the last 24 hours.
Despite today's growth, the rate of XLM is falling after setting a local resistance of $0.2540. If the daily bar closes below the local support of $0.2485, the correction is likely to continue to the $0.2460 mark.
On the longer time frame, the price of XLM has made a false breakout of the resistance of $0.2532.
If the daily candle closes far from that mark, bears may come back to the game, which may lead to a correction to the $0.2450 zone.
From the midterm point of view, it is too early to make any long-term predictions as the week has just started. However, if the bar closes above the previous candle's high ($0.2519), growth may continue to the $0.26-$0.28 range.
XLM is trading at $0.2490 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team