- XLM token price is moving lower under the substantial opposing influence of the 20-day EMA.
- The sloping 100-day EMA may soon crossover the 200-day EMA generating a bearish signal.
- The pair of XLM/BTC trades at 0.000007505 BTC with an intraday rise of +2.79%.
The XLM Token’s price is trailing below the 20-day EMA, as the price fails to rise above the substantial bearish influence of the resistance trendline. The vital supply area moving with the 20-day EMA knocks every price jump down with overwhelming selling pressure.
The recent death cross in the daily chart has failed to influence a downfall, but the upcoming 100-day EMA bearish crossover with the 200-day EMA might push the price down.
The price is trading under the sloping parabolic SAR, representing a downtrend with no abruption. The bears seem to be in total control as per the parabolic SAR.
The current market price of the XLM token is $0.2389. There has been an intraday fall in the market capital by +3.04%. Moreover, the intraday trading volume has inclined by +58.76%.
Bearish 100-period EMA Keeps Pushing The Bulls Down In XLM Token Price.
The XLM token prices are in a downtrend in the 4-hour timeframe despite a consolidation seen in the daily chart. The coin price experiences a rise in intraday trading volume but fails to end the downtrend.
The pivot point standard suggests that the coin price could support the $0.22 mark and the $0.20 mark. However, in the unlikely case of a bullish takeover, opposition at the $0.26 mark could push the price down.
The technical charts for the last four hours show that the coin price traded below all of the critical EMAs. All of the essential EMAs are moving in a bearish manner.
The RSI indicator, which is neutral, indicates a gradual rise in the slope. The RSI indicator also moves in the neutral area sideways.
The ADX indicator signals a sideways trend.
Conclusion: XLM Token price is in a downtrend and seems to have no bullish backup. The failure of the token price to end the downtrend despite the rise in trading volume suggests investors hold back their bullish intentions.
Support: $0.22 and $0.20