Boomer
Covenant x402
Pearl
Claudia
Solana
Bitcoin
Quantus
- Again the stellar coin price is just above the lower verge of the falling wedge pattern (white).
- The stellar coin price retested the 50-day moving average as a resistance and now buyers are attempting the price above 20-MA.
- Stellar coin price with the Bitcoin pair seems to be bearish by 2.8% at 0.000005115 satoshis.
Stellar Coin has a significant bullish barrier at $0.4300, every attempt til now turned into a sell-off at this level. 60% of the cost of the XLM coin is down from $0.4300 to a recent low ($0.1700-mark). During the sharp sell-off, XLM price action mirrored a parallel downward channel (white). Once bears succeeded in pushing the price below this channel but after consolidation the price again came back into this range.
The Stellar Coin appears slightly bullish by 0.19% at $0.2158. XLM coin price is just above the lower verge of this following pattern after retesting the resistance line. The Coin has immediate support at $0.190 and the resistance sits at $0.30-mark, if coin breaches this downwards channel with a huge amount of intraday trading volume.
In terms of the daily price chart, the Coin is currently trading well above the 20-day EMA (white). Additionally, major MAs such as the 50,100 and 200 MAs are above the price and recently, XLM price pulled back from the 50-MA line (blue). However, XLM coin has lost 27% of trading volume in the last 24 hours. And the daily volume bar has been maintained below the 20-MA line for the past four days.
Bears continue selling aggressively for the past four days
The Stellar coin price with the Bitcoin pair is trading at 0.00000511 satoshis, which is slightly positive by 0.39%. However, the pair price is below the significant moving averages over the daily price chart. Pair price is just above the essential support level of 0.0000050 satoshis. If bulls fail to dominate the pair price above this crucial support, the more aggressive selling may occur.
Super trend indicator is still reflecting the bullish sign in daily chart. However, the RSI slipped below the half-level(50-mark); now it is at 45-mark, showing the stability in the Coin. The MACD indicator is about to overcome the negative region, and histogram started reflecting the lower high, which may create a weak scenario between buyers. Moreover, the average directional index suggests slightly weak momentum.
Conclusion
The Stellar coin price is trading just above the critical level, if bulls fail to step soon, then the bears likely dump the price below this following channel. If buss succeeds in recovering the currency’s price, then the bullish momentum could happen.
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.
