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Price Analysis

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.

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.

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.

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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.

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