Price Analysis

Stellar’s Steady Fall Takes a Pause; Possible Rebound or Breach Alert?

  • Stellar has finally found a support level at $0.07246
  • Though the day-long price decline has taken a break, recovery doesn’t seem strong enough
  • Technical indicators give mixed signals for the coin

The price of Stellar (XLM) was constantly dropping since yesterday morning. The coin has broken below a few major support levels over the day; plus, it has noted a decline of 6.45%. However, the coin has recently found support level at $0.07246, which can turn the tide for the coin, if bulls help.

Stellar Price Prediction

Yesterday, the XLM coin opened at $0.07662, and after a mild low swing it reached $0.07745. Facing a rejection above, Stellar pulled back and tried to strike a rebound at $0.07552, but couldn’t, due to market bulls, presumably.

XLM has resumed the fall today also and has recently bottomed at $0.07246. The crypto coin is hustling to start a robust price recovery, but, it seems, is still facing hurdles. At 11:46:04 UTC, Stellar is trading at $0.07292.

XLM/USD Price Chart

Stellar Price
XLM Chart By TradingView

While SMA lines give negative outlook, RSI and MACD appear a bit hopeful. The short term SMA line is below the long term SMA line with a substantial gap indicating the current bearish trend. MACD line is slightly above the signal line but is below the zero-line of the histogram. RSI is at 38, showing no extremities, but the possibilities of upcoming over-sold phase cannot be denied too.

Stellar may face resistance at $0.0774, $0.0782 and $0.0789, and support levels at $0.0759, $0.0752 and $0.0744.

Tags

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.
Back to top button
Close