Price Analysis

Stellar (XLM) Holds Slight Bearishness as It Trades at $0.0555

Stellar trades around the lowest price area of the past six months at $0.0555 (data feed as per Coinbase). We can connect this movement of XLM/USD along with its momentum to that of the current crypto market scenario and the movement of all the major coins and altcoins. The stability is enough to let the year-end on a loss-making note for many investors.

In the previous six months, Stellar has noted descending heights from $0.140 to $0.126 and $0.055. While in the previous trading month, XLM coin hit the double bottom at $0.052 after surpassing it in September. The descending price trend took a reversal turn from soaring at $0.082 in the previous month to currently trading at $0.055, marking a regression of over 38%.

Stellar News
XLM Chart By TradingView

Stellar Price Prediction

XLM News
XLM Chart By TradingView

Looking at the 30-day’s XLM/USD price movement and momentum on Coinbase, we see that the coin started trading around $0.072 price area. Before taking a downward turn, Stellar price soared at $0.082 and, thereafter, plunged swiftly. While the fall was supported by a $0.052 price area in the last trading week of the previous month, with the current trading price being $0.0555.

Important to note that the two horizontal lines above and below show the major resistance and support points that the current trading price withholds. Since fortnight now, Stellar Lumens is having range-bound trading between $0.0527 and $0.059.

Technical Indicators

Stellar Lumens
XLM Chart By TradingView

The current trading price area, i.e., $0.0555, is rightly supported by the daily 9-day and 21-day moving averages. While a 200-day moving average of XLM coin is above $0.060 at $0.064, posing resistance for an upside break by the currency. The selling pressure is intact as it holds no support from the long-term moving averages due to a downside trading.

The MACD of the coin just had a bearish crossover as the price of Stellar has maintained the stability of the trading range.

While the RSI of XLM coin is at 50.55, breaking the uptrend of the Index but holding no extremities at present.

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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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