Stellar
Stellar Price Analysis: XLM in a Make-or-Break Situation, Will it Sustain at Lower Level?
- Stellar price is trading inside a descending triangle pattern over the daily price chart.
- XLM crypto is trading below the 20, 50, 100, and 200-day Daily Moving Average.
- The pair of XLM/BTC is at 0.000005447 BTC with an intraday drop of 2.77%.
Stellar price is trying to sustain at the verge of the descending triangle pattern over the daily price chart. The token \is trading in a make or break situation over the daily price chart. However, volume change shows that bulls are providing support to the coin and the token is also trying to sustain at the current level. XLM coin must sustain at the current level to avoid getting caught into the peer selling pressure and falling significantly towards the lower levels. XLM coin still needs to accumulate a significant amount of buyers in order to maintain itself above the descending triangle pattern.
Stellar price is presently CMP at $0.105 and has lost 6.43% of its market capitalization in the last 24-hour period. However, trading volume has increased by 10.65% in the intraday trading session. This shows that buyers are trying to accumulate themselves to provide support to XLM to sustain above the lower trendline. The volume to market cap ratio is 0.0635.
XLM coin price must accumulate a significant amount of buyers in order to sustain at the current level. However, the whole cryptocurrency market is having a bloodbath and is bearish all around as Bitcoin, the greatest dominator, slumps below the $20000 psychological level. Altcoins like XLM are also trading bearish towards the lower levels. Meanwhile, volume change can be seen under the control of bears and is still below average.
Support on the lower end is at $100 and resistance on the higher side is at $130.
Will XLM Sustain or get Detained?
XLM coin price is trying to sustain at the lower level and is currently trading with strong downtrend momentum over the daily price chart. Technical indicators suggest the downtrend momentum of the XLM coin. The relative Strength Index showcases the bearish momentum of the XLM coin. RSI is at 37 and is heading towards the oversold territory. MACD exhibits the downtrend momentum of the XLM coin. The MACD line is about to cross the signal line downwards resulting in a negative crossover. XLM investors need to wait for any directional change over the daily price chart.
Conclusion
Stellar price is trying to sustain at the verge of the descending triangle pattern over the daily price chart. The token \is trading in a make or break situation over the daily price chart. However, volume change shows that bulls are providing support to the coin and the token is also trying to sustain at the current level. Altcoins like XLM are also trading bearish towards the lower levels. Meanwhile, volume change can be seen under the control of bears and is still below average. Technical indicators suggest the downtrend momentum of the XLM coin. RSI is at 37 and is heading towards the oversold territory. XLM investors need to wait for any directional change over the daily price chart.
Technical Levels
Support Level: $100
Resistance Level: $130
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
