Stellar (XLM) has been gaining ground isnce June 27. The short0term correction will be followed by another bullish wave. Stellar (XLM) is the 14th largest digital asset with the current market value of $1.3 billion and an average daily trading volume of $302 million. The coin has gained over 4% in the recent 24 hours amid strong upside momentum. XLM/USD bottomed at $0.0588 on June 27 and has been recovering ever since. The price hit the recent high at $0.0674 during early Asian hours before retreating to $0.0671 by press time. XLM/USD: Technical picture On a daily chart, XLM/USD is well-positioned for the further recovery towards $0.0700. This critical resistance is reinforced by daily SMA50, and once it is out of the way, the upside is likely to gain traction with the next focus on $0.0800 and $0.0863 (the highest level of 2020). This barrier stopped the recovery in the middle of June and has a potential to slow down the bullish momentum. The RSI on a daily chart stays flat in a neutral position, which means the price may be vulnerable to range-bpund trading in the nearest future. The support is created by the upside-looking daily SMA100 at $0.0630. This barrier is closely followed by SMA200 located on approach to psychological $0.0600. XLM/USD has been trading above this MA since the end of April, moreover, it stopped the bearish assault on June 27. XLM/USD daily chart On the intraday chart, XLM/USD broke above 1-hour SMA200 at $0.0667, which is a positive technical signal. However, the intraday RSI reversed to the downside, while the upside momentum has faded away after a failed attempt to test $0.0700. It means that the coin may be vulnerable to the short-term correction towards $0.0650 (1-hour SMA50 and SMA100) before another bullish wave. XLM/USD 1-hour chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next S&P 500: Mild upward bias above 3067 with resistance seen at 3115 – Credit Suisse FX Street 2 years Stellar (XLM) has been gaining ground isnce June 27. The short0term correction will be followed by another bullish wave. Stellar (XLM) is the 14th largest digital asset with the current market value of $1.3 billion and an average daily trading volume of $302 million. The coin has gained over 4% in the recent 24 hours amid strong upside momentum. XLM/USD bottomed at $0.0588 on June 27 and has been recovering ever since. The price hit the recent high at $0.0674 during early Asian hours before retreating to $0.0671 by press time. XLM/USD: Technical picture On a daily chart, XLM/USD is well-positioned for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.