XLM Price Prediction: XLM Reached $0.0765 on the 5th of July, Could a Range Formation Be Next?

The spot CVD has also trended higher over the past three days, showing steady demand that could fuel a price breakout.

.0765 on the 5th of July, Could a Range Formation Be Next?" >

Stellar Lumens (XLM) prices fell sharply from $0.1114 on the 5th of July, as the crypto market crashed and burned. The prices reached as low as $0.0765 on the same day, following a drop of 31.9%. However, XLM prices have recovered since then, reaching $0.1028 on the 7th of August, showing gains of 34.35%.

The month-old range reached from $0.0765 to $0.1114. The mid-range level at $0.0954 served as support in mid-June and as a resistance zone in late June and early July. It has been breached and is likely to act as support from here on.

The CMF was at +0.21 to show large capital inflows into the market, helping prices surge higher. However, the DMI did not show a clear uptrend in progress. The price action also supported this idea. The most recent lower high for XLM to beat is at $0.1065. A move past this level would flip the structure bullishly, but it is unclear if the range highs would be broken. The Awesome Oscillator showed that momentum was still weakly bearish.

Since the deep price crash on Monday, the Open Interest has climbed higher. It shot upward from $25 million to $35 million on the 7th of August as prices pierced the $0.095 short-term resistance.

This indicated a strongly bullish sentiment.

The above is the detailed content of XLM Price Prediction: XLM Reached $0.0765 on the 5th of July, Could a Range Formation Be Next?. For more information, please follow other related articles on the PHP Chinese website!