Stellar Lumens (XLM) Gains 4.38% and Tops 200-Day Average

Stellar lumens (XLM) rose 4.38% over 24 hours to $0.1865 at 2:42 p.m. ET (18:42 UTC) on Oct. 21, climbing above its 200-day simple moving average while remaining below two shorter-term averages.

XLM had traded as low as $0.1784 during the 24-hour period. A chart reading at 2:34 p.m. ET (18:34 UTC) placed the 200-day simple moving average at $0.1827 and the nearest resistance at $0.1890.

The 20-day simple moving average stood at $0.1950, while the 50-day simple moving average was $0.1962. Both were higher than XLM’s quoted price despite the day’s gain.

XLM traded near $0.20 on Oct. 12 and around $0.18 by Oct. 16. The Oct. 21 price fell between those levels. It also put XLM on the opposite side of its 200-day average from an Oct. 15 market check, when the token was below that measure.

A move above $0.1890 would pass the nearest resistance in the chart reading, with the 20-day and 50-day simple moving averages still higher. XLM is used for transaction fees, rent and minimum balance requirements on Stellar. The change in its trading price does not, by itself, measure network activity.