Price Analysis

Stellar’s Uptrend Sees a Short Term Price Plunge

  • Stellar’s price recovery has just come across hurdles; bearish candles have been formed
  • The XLM coin may soon start looking for support levels is it breaches below $0.057, its immediate support
  • The higher-low pattern has been halted after today morning’s price consolidation
  • RSI seems extremely negative as the coin recently tumbled slightly
  • The coin has just formed a double bottom

Stellar Lumens has been trading with a bullish impact till just now. The currency has slipped slightly below $0.580 very recently. However, it is very likely that the famous altcoin will soon initiate the rebound.

Stellar Price Analysis

XLM coin opened yesterday on a bullish note as with the daybreak, it initiated a fresh increase. While forming higher lows, it went above $0.057 without any downward corrections. Today, the coin even crossed price barriers above $0.058 and touched the $0.0589 price mark.

Facing a rejection above, it formed a few pullbacks moves while remaining above $0.058 till 8:10 UTC.  Currently, it is at a plunge near $0.0575 at 09:18:21 UTC.

Stellar News
XLM/USD Chart By TradingView

SMA lines are about to have a bearish crossover right now as the XLM coin has halted its uptrend. RSI is even below 20, noting an oversold phase. MACD lines are also giving bearish signals at the moment.

Stellar price is likely to see resistance levels at $0.0601, $0.0617, and $0.0639 and support levels at $0.0563, $0.0541 and $0.0525.

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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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