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XLM Price Prediction: Stellar reluctant despite bullish technical backdrop
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Mar 17, 2021 00:11 GMTCrypto News
XLM price is contained inside the daily Keltner Bands and Bollinger Bands.
Stellar faces one critical resistance level before a retest of the all-time high.
A significant contraction in daily volume supports a price squeeze.
XLM price advance from mid-November 2020 to the February 13 high of $0.6083 was framed by three impulsive waves of 200%, 270%, and 170%, yielding an overall gain of 670%. Another bullish impulse of this nature could see Stellar rise to new yearly highs.
XLM price squeeze creates energy for a big rally
For the last twenty trading days, XLM price has been locked in a sideways pattern while respecting the Keltner Bands’ midline. The result of the tight price action is the emergence of a squeeze pattern.