Stellar Exhibits a Cumulative Downtrend, But Holds a Bullish Crossover
- Stellar trades at $0.053, after marking a fresh 7-day low at $0.0521
- The coin is facing major resistance from $0.0562 after it records a fall from $0.0582
- XLM coin gains no active support from the moving averages
Stellar’s downtrend is quite emphasized, as observed from the 10-day movement of XLM against USD on Coinbase. Just like any other altcoin, the uptrend was hit by the coin’s incapability to rise through a $0.056 resistance area. The red candles of the price trend have taken a reversal move and have bottomed out at $0.0521 in the given time frame.
Stellar Price Prediction
Analyzing the hourly movement of XLM to USD on Coinbase, we see that the coin is on a continual downswing after having a temporary zone out at $0.0582. The downtrend was prominent enough at the very starting of the last trading month of 2019.
The volatility is such that the sheer rise of a single green candle mounting at $0.058 could not really turn the tables as the MACD and RSI had a marginal upward move.
Unable to hold the illusionary height it had hit in the past week; it is currently bottoming out to gain support from the short-term moving averages.
According to Stellar Lumens prediction, the coin is currently trading with dense selling pressure and should have a persistent move above $0.056 to gain long-term support after 20-day MA.
Technical Indicators
The MACD of XLM is running below 0 but has a slight bullish crossover as the MACD line has hit the Signal line from below.
The RSI of the coin is also rising above the oversold region, and is currently at 43.95, holds no extremities at present.
