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- 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%.
As reflected in the pricing graph, XLM is having a significant bearish movement in today’s market. The altcoin broke down the crucial level of $0.042. The downtrend is so significant that it has brought the cryptoasset to the major support level of $0.040.
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 $0.038. The market cap is $749,413,749 and volume traded is $335,116,808.
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 having a positive movement of 1.16% with a level of 0.000000639 BTC.
Stellar Lumens Technical Analysis
The stellar coin price chart reflects on the downtrend of the altcoin which has become more significant in the previous month due to overall market conditions.
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 downtrending 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 overbought region. However, the negative divergence looked strong to reach the normal territory but succeeded. This indicates that bears are on the stronger side and XLM can face further downfall.
Resistance level: $0.042 and $0.045
Support level: $0.040 and $0.038
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
