- The trading volume of Stellar Coin in the last 24hr at the time of writing this article is -32.77%
- The Price of XLM/BTC and XLM/ETH at the time of writing this article is 0.000006443 BTC and 0.00009749 ETH
- The 20MA is crossing the 100MA
LONG TERM VIEW:-
In the daily chart interval we can see that the 20MA has crossed the 100MA which is a bullish move and now the 20MA is now heading towards the 50MA. The price is near the Resistance and the bears are not letting the bulls push the price up. There was a Doji after a long green candle. Let’s have a look at the technical indicator to see if the bull will be able to push the price up or not. First we can see the MACD which is showing green histograms and the MACD line is above the Signal line and no sign that the lines will change direction soon. In addition to that RSI is in the neutral zone near 60 and the RSI line is pointing sideways which means the Bulls and bears are giving each other a good fight.
SHORT TERM VIEW:-
In the 4hr time interval we can see that the MACD is showing green histograms which means the MACD line is above the signal line but the MACD line is changing its direction so the MACD line can cross the Signal line soon which means bearish run can be coming soon. Having said that, the RSI is in the neutral zone near 56 and is pointing towards the oversold zone which means the bears are winning the fight. Lastly we can see the 20MA is above the 50MA and 100MA but the 20MA is very close to the 50MA which means it can change direction anytime.
CONCLUSION:-
Looking at the Long term and short term we can see the price will not be able to break the resistance as there is a change in the sentiment of the 4hr time interval we can see the MACD is changing the direction into a bearish trend. So in the daily chart interval the price is not able to break the resistance and make a doji now the bears will take the charge of the price and drive it down.
RESISTANCE:-$0.39,$0.42
SUPPORT:-$0.33,$0.29