Stellar Price Analysis: Stellar Lumens (XLM) Drops Back to $0.066 After Rising to $0.069 in the Past 24 hours

Stellar price trades around $0.066 again just as yesterday but after rising close to $0.070 at $0.069. The crypto market seems to have a dull day even today as the major coin like Bitcoin, Ethereum and XRP have been trading with a downtrend only. Bitcoin price, the anchor has even slipped below $10,000 and is currently correcting upwards.

XLM needs to have a heavy and quick recovery in order to lighten the bearish phase it is surrounded with, presently. If the coin crashes down even further, the selling pressure will lead to a colossal amount of disinvestment in the coin.

Stellar Price Analysis: Stellar Lumens (XLM) Drops Back to $0.066 After Rising to $0.069 in the Past 24 hours

XLM to USD Price Chart by TradingView:

The XLM price chart is a data feed from Coinbase as on 22nd August at 04:26 UTC.

Stellar Price Comparison
XLM Price Chart by TradingView

XLM Price Comparison:

As per the movement traced from the above 4-hourly chart of XLM, we see that the coin at the starting of the day was trading $0.067245. However, it is important to note that the coin even traded as high as $0.069 with a view to trade above $0.070 in the past 24 hours. But Stellar Lumens could not hold tight and this led the XLM coin to take a downward stride. In the past 4 hours, XLM has traded at the price mark of $0.065 with a plunge of 2.98% from the price of $0.067. Currently it is trading at $0.066 slightly above and below the lowest of the time frame until now and the opening price of the day i.e. 22nd August. However, check on XLM Predictions to know the price updates for upcoming years

Technical Indicators:

As observed from the 4-hourly momentum of the Stellar coin, we see the bearish trace of XLM.

The current trading price is notably lower than its 30-day SMA ($0.077266) and 30-day EMA ($0.077127), trades with an absolute selling pressure.

The MACD of the XLM coin seems to have a collision of the MACD and the signal line after having a short-term bullish crossover.

The RSI of the Stellar coin is around 60 and has no extremities in the overbought or oversold region.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

Related Articles

Back to top button