Price Analysis

Stellar Appears Bearish as it Trades at $0.045 with a Negative Crossover

Stellar trades at $0.0453 at the press time and is seen as having a plunging momentum. However, as observed, it was a pleasant day for the altcoin’s traders and investors yesterday, like ETH, BCH, BSV was trading at amazing figures.

On the last day of the decade, we rightly embrace the soaring power of XLM against USD at $0.163 and $0.132. Although, the coin is on a constant plunge after having embarked on a height at $0.132.

Stellar Lumens News
XLM/USD Chart By TradingView

Analyzing the daily movement of XLM/USD on Bittrex, we see that the coin is exhibiting two trend divergences. If we analyze the Year to Date trend of the coin, we observe temporary upside candle breakouts, and therefore, we believe that the price of Stellar cryptocurrency is soon going to have a zone out. If XLM coin follows the trend throughout if it right to have a steep rise soon after bottoming out.

XLM News

In order to confirm the same, we observe the long-term movement of the coin and analyze that the coin may form a half-moon if it follows this trend. The upcoming year happens to be the latter half of the growth for Stellar against USD if it supported by the imminent moving averages. This would not make enough to say that if the same takes place, the crypto investors will face the ‘altcoin season’ sooner than anything. Undoubtedly, the current movement is not satisfying to prove the further projection as the coin is rightly below 23.6% Fib Retracement area.

Stellar Price News

Analyzing the technical indicators laid on the chart, we see that the MACD of Stellar Lumens is running below zero and holds slight bearish crossover due to a negative intraday move, today.

The RSI of the coin is at 37.57 and is inclined towards the oversold region.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.
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