Home Analysis Stellar (XLM) Price Analysis: Bulls Looked Confident For $0.040 Mark But Bears...

Stellar (XLM) Price Analysis: Bulls Looked Confident For $0.040 Mark But Bears Enforced Movement

  • Stellar Price is suffering major price corrections due to the overall downtrend in the cryptomarket. 
  • Currently, it is facing an overall loss of -1.78%. 

price
Source: Coin360

As reflected in the pricing graph, XLM is having a cyclic movement in today’s market. The altcoin broke down the crucial level of $0.040. The downtrend is so significant that it can bring the cryptoasset to the major support level of $0.035.

XLM, somehow, had the support at the price level of $0.035 and went up to the price level of $0.044. However, the overall market forces pushed XLM down to the major support level of $0.039. The market cap is $799,413,749 and volume traded is $341,116,808.

The ongoing current downtrend in the market is again bringing the majority of the coins to their lowest possible level for the year. The XLM/BTC pair is also having negative movement of -0.63% with the level of 0.000000601 BTC.

Stellar Lumens Technical Analysis 

Screenshot (109)
Source: Tradingview

The stellar coin price chart reflects on the downtrend of the altcoin which has become more significant this month due to overall market conditions. The graph also suggests that XLM has tried to maintain its sustainability at different support levels but failed due to the overall bearish movement in the market. 

The technical indicators and oscillators suggest that the crypto market will see the color of red in upcoming days for XLM.

The MACD levels are again brought back to the bearish nature after reaching the bullish region through lots of efforts.

The 24hour- RSI is again showing bearish nature which is not a positive sign for the altcoin. A break below the level of 40 will provide more bearish momentum.

The 24hour-CCI touched the oversold region. However, the positive divergence looked strong to reach the normal territory but showing negative nature. This indicates that bears are on the stronger side and XLM can face further downfall.

Resistance level: $0.040 and $0.045
Support level: $0.036 and $0.035

Download our App for getting faster updates at your fingertips.

en badge web generic.b07819ff

Vasu Singhal
Vasu Singhal is a management student and a stock market trader. He believes that investment avenues and opportunities are very diversified. Therefore, he has an interest in blockchain technology too. He likes to evaluate best investments available in the financial market with showcasing the required skills.

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners

Must Read

Is OMG Network Signalling For Consolidation After Retracing and Moving Within Symmetric Triangle

After testing the major resistance level of $3.80, OMG Network faced strong retracement and looking to touch the support level of $3.20...

Compound Gains Around 23.00% From Past Week Charting A Positive Breakout

Compound has made significant price recovery action from the past week after facing a negative breakout below $100.00However, the COMP/BTC pair has...

Litecoin Positive Breakout Arriving To Critical Resistance Point With Strong Positive Hopes

Litecoin positive momentum is now close to the critical resistance area ranging from $75.00 to $80.00 with the help of weekly gain...

Chainlink Breaks Above $14.00 as Altcoins Take Control on The Bullish Run

Chainlink is into making significant price recovery action in the market as it had a positive breakout above the bullish mark of...

Band Protocol Might Be Heading For Significant Recovery Action With a Potential Breakout From Falling Wedge

Band Protocol is currently setting its pace for a potential significant recovery action after reaching a critical support area of $3.80The price...

Polkadot Zooms 7.63% After the Breakout from Bullish Flag Pattern

On the 12-hours chart pattern, Polkadot gives a positive breakout from the bullish flag pattern and hedging towards the target of $5.47...

Related News

Will Curve DAO Token Be Able to Have a Bullish Run By Forming Parabolic Curve on Chart?

Curve DAO Token has faced significant price corrections activity from the past couple of months resulting in the price levels to reach...

Is OMG Network Signalling For Consolidation After Retracing and Moving Within Symmetric Triangle

After testing the major resistance level of $3.80, OMG Network faced strong retracement and looking to touch the support level of $3.20...

Compound Gains Around 23.00% From Past Week Charting A Positive Breakout

Compound has made significant price recovery action from the past week after facing a negative breakout below $100.00However, the COMP/BTC pair has...

Litecoin Positive Breakout Arriving To Critical Resistance Point With Strong Positive Hopes

Litecoin positive momentum is now close to the critical resistance area ranging from $75.00 to $80.00 with the help of weekly gain...

Chainlink Breaks Above $14.00 as Altcoins Take Control on The Bullish Run

Chainlink is into making significant price recovery action in the market as it had a positive breakout above the bullish mark of...