Price Analysis

Stellar Witnesses a Massive Drop; Breaks Below $0.072

  • Stellar Lumens is attempting to strike a price recovery
  • The coin saw support at $0.07105, yet to touch $0.072 price mark
  • XLM price dropped by more than 5% over the last 24 hours
  • Technical indicators are heading towards a bullish zone though sluggish trend persists

XLM price has dropped from a high spike at $0.075 and touched a low at $0.0710. Meanwhile, the BTC price has also stepped down from $9694 to $9528.91. The uptrend in the crypto market, which started in October-end, is moving towards a pause.

Stellar Price Prediction

Stellar’s opening price of yesterday was above $0.074, and after a low-swing, it surged to $0.075. The XLM coin couldn’t move above it and sharply took a fall to trade as low as $0.0710. This was a hefty price drop of more than 5%. The coin has mildly recovered from there with a bullish trendline. However, the upward trendline has been breached as Stellar price took a plunge near $0.0712. Currently, the coin has managed to trade at $0.0717 at 05:03:11 UTC after a meek rebound.

Stellar Price
XLM Chart By TradingView

Despite the sluggish market, XLM’s price trend manifests bullish technical indicators. The SMA lines have just formed a positive crossover as the short-term SMA line moves above the long-term SMA line. In the MACD chart, the signal line is below the MACD line noting a rise. RSI indicator is also above 50, indicating a stable phase.

XLM coin may face resistance at $0.0741, $0.0760, and $0.0771, while its support levels stand at $0.0711, $0.0700, and $0.0682.

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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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