Stellar Lumens (XLM) Price Analysis: Stellar Price Testing $0.060 With Minor Downtrend

• Stellar lumens XLM showed negative momentum in today’s market with an overall loss of 1.72%.
• The cryptoasset has managed to cross and sustain over the price level of $0.060.
• The XLM/BTC pair is also performing negative in the market with a loss of 2.71% bringing the level to 0.000000830 BTC. 

On the 7day-weekly chart, XLM started by breaking the crucial mark of $0.050. The uptrend indicated that bulls will provide significant price recovery to the altcoin

The price went up to the level of $0.065 before an overall downfall was waiting for the altcoin. Yesterday’s downfall in the market forced the cryptoasset to plunge to the support level of $0.060. 

However, the support level of $0.060 came into rescue for the altcoin and avoided any further major downfall in the market. 

Looking at the current condition of the stellar lumens, it is having a negative momentum of 1.00% bringing the current price level to a safe spot of $0.060. The market capitalization is $1,288,921,413 and volume traded of $761,915,775. The large magnitude of uptrend has definitely indicated a further bullish move for the altcoin in the market.  

The technical indicators have now turned slightly normal after going negative in yesterday’s market because of the downfall to the level of $0.60. This is a positive sign for the altcoin for regaining the bullish momentum. 

The MACD levels are in the bullish zone. The buying volume made a bullish cross in the bullish zone which may provide more bullish movement to XLM. 

The 24hour-RSI have climbed to the level of 80 and showing positive nature. The levels are looking too vulnerable for a negative divergence.  

The 24hour-CCI is showing positive nature in the market. It is in the overbought region which reflects the strong sustainability going for the altcoin. This aslo indicates that the coin might sustain on this bullish movement.  

Resistance Level: $0.65

Support level: $0.60

Pratik Chadhokar

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.