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- 1 Stellar crypto price is currently trading at $0.119374 with a loss of -1.23% in the last 24 hours with a current market cap of $3.273 Billion.
- 2 XLM trading in a tight range in a triangle pattern.
XLM price forecast suggests sellers and buyers are yet to gain a proper grip on the trend. Investors might prefer to wait for a convergence of multiple technical indicators in order to determine the direction of the trend. There is a slight increase in the red candles of volume which indicates the Stellar price is attracting bears at the demand zone.
Investor’s sentiments regarding the Stellar price are bearish at present and may remain negative unless the buyers start stepping into the price action with substantial momentum. Moreover, according to the technical indicators and price action, the odds are lining up in the neutral phase.
XLM crypto price needs an influx of buyers to surge the price towards the upper trendline of the consolidation phase over the 1-day time frame. Moreover, the XLM crypto price is trying to gather support and surge towards major daily moving averages. XLM crypto has been consolidating inside the narrow price range.
Nevertheless, Stellar crypto price has declined to around -7.94% in a week and decreased to -25.35% in a month. Also, XLM’s crypto price gained around 33.72% in the last three months and 36.89% over the last six months. Moreover, the XLM technical chart shows a decreasing streak in the last month. However, analysts believe that the crypto price may bounce back from lower levels.
Technical Breakdown of Stellar Crypto Price
Stellar (XLM) has steadily seen its crypto price rise for the past three months, gaining 33.72%. Moreover, the crypto price plunged -25.35% in the last month. Currently, XLM crypto is trading at $0.119374 and has been trying to hold on to this level.
Currently, Stellar Crypto (XLM) is trading between the 50 and 200-day DMAs (Daily moving averages), which are supporting the price momentum. If it can keep this level, the Stellar price could continue to go up and reach the first and second targets of $0.200 and $0.250. However, if the XLM price cannot maintain this level and falls, then it might hit the closest support levels of $0.0100 and $0.050.
Moreover, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the XLM crypto price is anticipated to move upward giving a positive outlook over the daily time frame chart.
The MACD line at -0.004347 and the signal line at -0.003730 are below the zero line. A death crossover is observed in the MACD indicator which indicates weakness in the momentum of the Stellar crypto price. The current value of RSI is 40.50 points. The 14 SMA is above the median line at 40.77 points which indicates that the Stellar crypto is bearish.
Summary
XLM price action reflects a mild bearish outlook at the moment. Furthermore, XLM investors and traders should wait for proper setup for their next move and avoid the fear of missing out. XLM technical indicators also support the negative trend. The MACD, RSI, and EMA are highlighting negative indications and indicate that the downtrend may resume in the Stellar crypto price. Price action points that the investors and traders are bearish on the daily time frame.
Technical Levels
- Support Levels: $0.0100 and $0.050.
- Resistance Levels: $0.200 and $0.250.
Disclaimer
The analysis delivered in this article is for informational and educational objectives only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto affects risk. Please consider your circumstances and risk tolerance before making any investment decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
