The star (XLM) may be about to shift the direction of the macro, as the main trend index has been distinguished for the first time in more than two years.
Ali, an encrypted currency analyst, wrote in a hadith tweet“For the first time since January 2022, the SuperRend Index indicates a possible transformation of a potential Macro direction in the star XLM.”
SUPERTREND is a major technical analysis tool used by traders to discover market trends, manage risk and confirm market tendencies.
The indicator indicates that XLM may expect a new transformation, which may reflect a long period of side and the Habbudian movement.
Stellar has been relatively calm in recent months, due to the dull performance in the encrypted currency market. At the time of writing this report, XLM decreased by 2.38 % in the previous 24 hours to $ 0.248 as the total cryptocurrency market decreased.
The encryption market faced new pressure for sale in the Sunday session early, as traders got gains after the last bounce and considered the total economic developments last week.
What is the following to make stellar prices (XLM)
Although one of the indicators does not guarantee the price reflection, the signal presented by the Supertrend index, as I noticed, provides a convincing reason to watch XLM closely in the coming days.
Related
Stellar (XLM) has decreased steadily since March 26 after facing the resistance at $ 0.3022. The cryptocurrency is working on the right track to celebrate the third consecutive day of the decline, as it reaches its lowest levels of $ 0.245 in an early Sunday session.
The continuous break over the average daily movement of 50 and 200 at 0.289 dollars and 0.285 dollars would indicate a bullish return with goals at 0.374 dollars and $ 0.514.
Currently, the market will be monitored to see if this direction signal is carrying – and whether the stars are really preparing to turn the macro. On the other hand, if it decreases more, support is imagined at $ 0.226.
