Price Analysis

Stellar (XLM) Starts the Day on a Bearish Note; Drops by More Than 1%

  • Stellar has recently started an uptrend; may cross the 38.20% Fib level
  • The bullish trendline has just been breached with a bearish candle
  • XLM coin seems to have a support level at $0.0536; rebound lacks momentum
  • Technicals look bearish while the coin carries selling pressure

Yesterday, in the second half, Stellar price gradually declined with a bearish bias. The coin seems to have found a bottom today, while Bitcoin is also trading below $7400 with a negative bias.

Stellar Price Prediction:

Stellar Lumens has seen an opening today at $0.0545, and from there, the coin nosedived sharply. The price drop took the XLM coin to $0.0536 with a decline of 1.75%. The coin weakly climbed up and managed to trace a close above 38.20% Fib level and then slowly pulled back. The coin has formed a few lows below 23.60% Fib level also since today morning.

However, in the last 2 hours, XLM coin has started an uptrend with a bullish trendline. The trendline broke when the coin marked a bearish candle. At 12:35:24 UTC, it is trading at $0.0539.

Stellar Chart
XLM/USD Chart by TradingView

RSI is at 48, noting a stable momentum at present. Bollinger bands are yet to show any volatility signal and SMA lines have just traced a bullish crossover. MACD is heading towards the bearish zone within its MACD line on the downside.

XLM is likely to see resistance at $0.0558, $0.0571, and $0.0579 and support levels at $0.0536, $0.0528, and $0.0514.

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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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