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Stellar Lumen price analysis: Buyers may target $0.095 level

By Nathan Batchelor

15:38, 5 June 2020

Stellar Lumen price analysis

Stellar Lumen has rallied to its highest trading level since early February, after bulls stepped in from $0.070 level this week.

Stellar Lumen technical analysis shows that bulls may be preparing to attack towards the $0.095 resistance level.

Stellar Lumen medium-term price trend

Stellar Lumen remains one of the best performing top cryptocurrencies, with the XLM/USD posting double-digit gains this week.

Stellar Lumen price analysis shows that the XLM/USD pair is likely to target towards the $0.095 level over the medium-term.

Stellar Lumen price analysis

The daily time frame shows that an extremely large inverted head and shoulders pattern will form if price reaches the 18 September swing-high, around the $0.095 level.

According to the size of the bullish reversal pattern the XLM/USD pair could rally by nearly $0.075 if the pattern is activated.

Technical analysis shows that medium-term bulls will likely buy any dips towards the $0.077 to $0.072 technical area. 

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BTC/USD

98,894.30 Price
+0.810% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Gold

2,687.93 Price
+0.710% 1D Chg, %
Long position overnight fee -0.0174%
Short position overnight fee 0.0092%
Overnight fee time 22:00 (UTC)
Spread 0.30

US100

20,712.70 Price
+0.070% 1D Chg, %
Long position overnight fee -0.0241%
Short position overnight fee 0.0019%
Overnight fee time 22:00 (UTC)
Spread 1.8

ETH/USD

3,379.31 Price
+0.840% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

Stellar Lumen short-term price trend

Stellar Lumen technical analysis over the short term shows that the cryptocurrency has a bullish bias while the price trades above the $0.072 support level.

The one-hour time frame shows that a small bullish pattern has been activated, following the recent rally above the $0.077 level.

Stellar Lumen price analysis

According to the size of the bullish inverted head and shoulders pattern, the XLM/USD pair may rally towards the $0.092 level.

Due to the XLM/USD pair’s strong short and medium-term bias, it is increasingly likely that the cryptocurrency will rally towards the $0.092 to $0.095 area.

Over the medium-term, an even larger breakout above the $0.100 level also seems possible.

Stellar Lumen technical summary

Stellar Lumen technical analysis highlights that the cryptocurrency is expected to rally towards the $0.092 to $0.095 resistance area. A larger bullish pattern may be forming.

Markets in this article

XLM/USD
Stellar / USD
0.28970 USD
0.03912 +15.670%

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