A new week has started with a neutral mode on the market, according to CoinMarketCap.
XLM/USD
The rate of XLM has declined by 0.23% over the last 24 hours.
On the hourly chart, the price of XLM might have set a local resistance level of $0.4788. As most of the daily ATR has been passed, there are low chances of seeing any sharp moves by the end of the day.
On the bigger time frame, the rate of the altcoin is far from key levels. If the candle closes around the current prices, sideways trading in the narrow range of $0.44-$0.48 is the more likely scenario.
From the midterm point of view, the price of XLM is in the middle of the wide channel. If buyers want to seize the initiative, they need to restore the rate to the interim zone of $0.50.
If that happens, there is a chance of seeing an ongoing upward move to the $0.55-$0.60 area.
XLM is trading at $0.4608 at press time.
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