XLM/USD pair spots a potential bull pennant on the daily chart.

RSI points north while within the bullish region.

Upside appears more compelling for Stellar Lumens.

XLM/USD attempting another run to record highs and beyond

Stellar Lumens trades within last week’s range on Sunday, as the bulls await a strong impetus for the next move northwards.

The XLM all-time highs at $0.6123 are back on the buyers’ radars, with the short-term technical setup also backing the case for the additional upside.

XLM/USD pair is eyeing a daily closing above the falling trendline resistance at $0.5425 in order to validate a bull pennant formation.

Adding credence to the upside bias, the 14-day relative strength index (RSI) edges higher above the 50 levels.

The XLM bulls will target the $1 psychological level if the record high is taken out.

On the flip side, if the price closes below the rising trendline support at $0.4740 on the daily candlestick, it could lead to the pattern failure, exposing the bullish 21-daily moving average (DMA) at $0.4384.



Further south the upward-sloping 50-DMA at $0.3452 could likely be the last resort for the XLM bulls.

The Bottom Line on Stellar Lumens XLM

The cryptocurrency boom is alive and well. There’s a good deal of institutional and retail interest. Tesla just took a massive $1.6 billion position. Bridgewater’s Ray Dalio says Bitcoin BTC is “one hell of an invention.” BlackRock funds can now invest in cryptocurrencies. Even Apple company is rumored to take a position in digital currency, too.

Zilliqa and XCADEMY plan a blockchain-based influencer economy

Tron TRX has been noting the market turn volatile