Stellar Cryptocurrency Price Forecast for August 14th
Stellar (XLM) has seen a decline of 2.38% over the last 24 hours, according to data from CoinStats, with the digital asset currently trading at $0.4259 at press time.
In the short-term, the most likely scenario for XLM is a bullish one, as per the analysis of Denys Serhiichuk on U.Today. A confirmed golden cross on the three-hour chart suggests an upward price push, potentially reaching $0.60 in the near future. This follows a price rebound from around $0.41 to $0.4132, with increased trading volume supporting the rally.
However, on a mid-term perspective, the price of XLM is expected to trade sideways, largely within the range of $0.41–$0.46. This is due to stable but low volatility conditions observed previously, with neither side of the price channel dominating, leading to low chances of increased volatility.
On the hourly chart, the price of XLM has broken the local support of $0.4395, which could indicate a continued decline towards the $0.40 zone if the current candle closes below this level. On the daily time frame, the rate of XLM is currently within a wide channel, with support at $0.3620 and resistance at $0.5166.
It's important to note that no new resistance or support levels have been identified in the recent analysis. Additionally, the rate of XRP has not been mentioned in the current analysis.
In summary, Denys Serhiichuk's latest analysis suggests a short-term upward surge driven by strong technical signals, while the mid-term outlook remains cautiously neutral with sideways price action likely unless market dynamics shift. Traders are advised to closely monitor the price action and any potential changes in market conditions.
Read also:
- Elon Musk accused by Sam Altman of exploiting X for personal gain
- Comparing the value of top electric scooters: Kinetic DX versus Bajaj Chetak versus TVS iQube - Which one offers the best bang for the buck?
- Tech tycoon Elon Musk alleges Apple is preferring OpenAI, sparking potential lawsuits contemplation
- China's Automotive Landscape: Toyota's Innovative Strategy in Self-Driving Vehicles
