- Stellar trades around the lowest price of past 3 months at $0.0520
- The coin holds no support from the major moving averages
- XLM price faces major resistance around $0.0899—which happens to be mid of 200-day MA
Stellar has been trading quite stably with a few temporary rises in between. Giving an instance to the same, XLM price rose to $0.126, followed by $0.0899 before getting back to the stable movement. The current crypto market trades with almost negligible volatility, which may turn out to be a signal of facing a ‘lull before the storm’—a situation of the extreme downtrend or a random rise.
Stellar Price Analysis:
Analyzing the daily movement of Stellar Lumens on Coinbase over the past 3 months, we see quite a stable move throughout the said time frame. The first random uptrend made the XLM coin to trade at $0.126, which then hit rock bottom and failed to gain momentum until the previous trading month. However, it was just a month ago that Stellar price was trading quite well as it hit $0.0899—which happens to be a fresh 30-day high.
The current price area is slightly supported by the 9-day daily MA at $0.0538, and a further downtrend will lead to inactive supports.
The technical indicators assigned rightly confirm the bearishness that is prevailing as the MACD of Stellar cryptocurrency runs below zero and holds a bearish crossover as the signal line overpowers the MACD line.
The RSI of the XLM coin is at 32.21 and holds no extremities at present but a strong inclination towards the oversold region.