- XLM crypto price is observing a strong downside momentum on the daily chart which can lead it to a new low in future. It is down by more than 5% in the past 24 hours
- Stellar price may see a strong downtrend before observing an upside correction. Meanwhile, the XLM/BTC pair is up by more than 0.86%
XLM coin price is seeing a strong downside momentum on the daily chart which can lead it to test the lower support. Stellar crypto has seen a loss of more than 5% and is trading near the value of $0.27. Stellar price upside momentum may see a hostile region while going upwards near $0.5. The bounceback region of the coin may be seen near $0.2. XLM coin price is currently trading above the 50 and 100 Daily Moving Average, with a negative crossover in the past trading session. The 100 DMA for the coin is near $0.30, making it a temporary support region for the asset price. The breakdown of price below the 100MA might push it to a new low in the future. The XLM/BTC pair is also seeing a downside momentum and can test the lower support. One can invest in Stellar as per their needs and risk adversity.
XLM coin market dominance along with the market cap has seen a decline in the past few weeks. The volume of the coin has seen a surge but the market cap has observed a decline in the past few days. Stellar token volume to market cap ratio suggests a strong downside momentum for the future.
XLM Coin Price Bears Might Push It To A New Low
Stellar coin weekly technical chart suggests a strong downside momentum in price. It has observed a loss of more than 16% in the weekly time frame. The daily chart of XLM coin price suggests a strong downtrend in price for the future. There is formation of a strong bearish pattern on the daily chart. If the price of the asset dumps 15 to 20% below the current level then a strong bearish momentum can be seen in future. The XLM/BTC pair can also see a similar downtrend in the future.
Conclusion
XLM coin price is currently seeing a strong downtrend which can lead it to a new low in the future. The XLM/BTC pair can also test the lower support in upcoming days
Technical Levels
Major Resistance:$0.5
Major Support:$0.2