Stellar (XLM) Records a Fall of Over 6.5% in Less than 24-hours
- Stellar trades at $0.0458—marking a fresh 52-week low
- XLM’s current trading price is slightly supported by 9-day MA
- The coin currently trades below 23.60% Fib Retracement level and appears bearish
Stellar Lumens had been recording a swift declining price range for quite a long time. Also, Bitcoin price has taken a move below $7,000 and we believe that the whole crypto market is driven to be bearish as all the major coins have taken a setback. The market cap and 24-hour trading volume have also seen a notable decline as the major altcoin aka Ethereum, crashed along with XRP, LTC, and XLM.
XLM Price Analysis
Analyzing the 24-hour movement of XLM/USD on Coinbase, we see that the coin has been moving in a stable yet declining momentum. As observed, the coin has taken a sliding fall from trading around $0.051 to falling from the edge of $0.050. Stellar price remarkably fell by over 6.5% in the past 24 hours from $0.0501 to $0.0468.
After hitting $0.0468, XLM price had a comparatively steep fall sliding from $0.0468 to $0.0455 to $0.0451.
Technical Indicators:
XLM coin took a sharp slid from 78.60% Fib Retracement area to lower than 23.60% Fib Retracement, showing utter bearishness and the massive degree of fall.
The MACD of the coin is also running below zero, and the signal line cuts the MACD line which confirms the inherited bearishness.
The RSI of Stellar is at 46.43 and shows no extremities at present but remains inclined to the support of the oversold region. Clicking here and get an in-depth price forecast for XLM by crypto experts.
