This week's closing price for XLM Coin will sort out the market Stellar coin appears to be in minor recovery phase for the short-time period, on the flip side it's still bearish in weekly chart.
The XLM coin price is presented below the essential moving averages (such as 20,50,100 and 200 EMAs) on the daily price graph.
The daily RSI is showing a bullish trend with a half-line (50 points) as an indicator. However, the RSI did not move into the overbought zone before recovery, which means that XLM has a bullish potential.
The ADX indicator continues to move down and forms a low-high pattern in the context of the daily price graph.
For a strong bullish run, the bulls need to push the Stellar coin above the $0.24 resistance level as soon as possible. On the other hand, if they fail to manage the act, the wide range consolidation phase may continue for a long time.
Support level- $0.1850 and $0.160
Resistance level- $0.240 and $0300
