Stellar Lumens rose 80.63% on Wednesday. Stellar Lumens closed the day at $ 0.3492 after Tuesday’s 17.79% rally. XLM, which started Thursday at $ 0.35, continues to move around these levels.
Stellar Lumen broke through the main resistance levels for the day to confirm the formation of a bullish trend since the drop to $ 0.026139 in March.
In the second half of the day, Stellar Lumen fell to $ 0.2650 levels.
The turnaround saw Stellar fall back from the third major resistance level at $ 0.30447 before returning to the $ 0.35 levels.
However, Stellar Lumen, which climbed as high as $ 0.40, ended the day at $ 0.34.
Stellar is trading at $ 0.34 at the time of writing.
What levels should be considered?
Stellar’s first major resistance level is seen at $ 0.44. The second major resistance level is located at $ 0.4630.
However, support from a wider market will be required for Stellar to hit Wednesday’s high of $ 0.4400.
In the event of another extended rally, Stellar is expected to test $ 0.55 ahead of any pullback. The second major resistance level is located at $ 0.5747.
Stellar’s support levels are seen at $ 0.3272 followed by $ 0.2945.