Stellar Lumens (XLM) Price Analysis: The Bulls Are Still Fighting For $0.40 Mark For XLM

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.
  • 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%.

Capture
Source: Coinmarketcap

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

Screenshot (140)
Source: Tradingview

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

 

 

 

We Recomaned

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners