Home
News
- 1 Stellar price prediction is bullish for October and November 2023.
- 2 XLM price drops below the 200-day EMA showcase the trend has turned downward.
- 3 Stellar price returns back to the breakout level.
Stellar price stays bullish for October and November till it holds $0.1000 support. However, the price pattern looks mildly bearish which means that short sellers must be cautious in the coming week.
XLM price faced rejection from the $0.1353 level and the price dropped below the 50-day and 200-day EMA. It shows that sellers are active in the supply zone and the trend has reversed down.
Slowly and steadily, the price declined and returned back to the breakout level. So, it will be interesting to see how the price reacts in the coming sessions which will decide the next direction of the crypto.
The trading volume of Stellar crypto is in a declining phase indicating the lack of buying interest at the current price. However, the sudden speculative spikes may come to clear out the previous shorts.
XLM price has not performed well in the past few months and traded with a bearish bias. Therefore, investors expect that the downfall will halt soon. Stellar price is trading at $0.1036 with an intraday decline of -0.67%. The 24-hour volume to market cap is 1.79%.
Will Stellar Price Defend the $0.1000 Support?
Stellar price prediction suggests a sharp upmove may come to defend the $0.1000 support. If in the upcoming months, the overall crypto market recovers, then it will increase the probability of XLM buyers defending the support.
Till the XLM price sustains above the $0.1000 level, the possibility of a bounce back remains high. However, the buyers will gain confidence when they succeed in breaking the $0.1353 hurdle.
The technical analysis suggests that Stellar price is near the crucial support and it is likely to be sustained.
XLM Price Fell For Five Consecutive Weeks
XLM price fell for five consecutive weeks forming a bearish pattern. Short-term pullbacks are getting rejected showing that sellers are active. However, it’s risky to create fresh shorts at current levels.
The MACD curve slopes down; indicating mild bearishness. On the other hand, the RSI at 30 denotes oversold territory so a relief rally may trigger any time from the support. The super trend shows that the price is below $0.1147 and the trend will remain downwards.
Conclusion
Stellar price prediction is bullish for the next few months and suggests a rise. Stellar price has corrected a lot and the downfall may halt. The analysis suggests that the XLM price is near the crucial support and buyers are likely to defend it.
Technical Levels
- Resistance levels: $0.1353 and $0.1466
- Support levels: $0.0935 and $0.0800
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
