- The XLM price has been in a downtrend from the beginning of this year.
- XLM is trading at $0.105 with an increase of 1.4% in the intraday sessions.
- The token is down by 88.88% from its all-time high.
The XLM coin price has not seen any major upward movement from the beginning of this year. The price has recorded a loss worth 20.02% in the last 3 months. From the beginning of this year, the price has been mostly trading =below the $0.113 level. It marked its yearly high of $0.197 in the month of july.
It marked an all-time high on 4th January, 2018, when the token was priced at $0.938. The token is trading with a drop of 19.75% in the trading volume in the last 24 hours.
The present market capitalization of the token is $2.91 Billion. It has a circulating supply of 27.78 Billion XLM coins which is 55.56% of the total supply. The 24-hour trading volume of the token is 37.45 Million.
Sentiment Analysis
The total market volume has declined by 20.93% in a week. Total social engagements have just increased by 0.3771% and the total bearish sentiments have surged by 56%. Overall sentiments suggest a bearish movement in the price.
Technical Analysis Of XLM ( Daily-1D )
In the chart we can see that the XLM coin price is bearish and facing rejections from a bearish trendline. It made its high in the month of July and after that the bulls tried to push the price up but got rejected from the resistance level of $0.16. The price is currently trading below the support level of $0.11 which currently acts as a resistance for the price.
The price is currently below the 50-day EMA which is also a bearish sign for the price. From the present position, the price is trying to move upwards. If the price gets rejected from the trendline, then it can fall to the support level of $0.095.
The $0.095 level is a demand zone from where the price last made a huge upward movement. If the price gets there, then we can see a bullish movement again.
However, the price can also move up from the current place and break the trendline and get above the $0.11 level and regain it as a support. If the price acted like this then the price can make an upward movement till $0.16. It is also important that the price should get above the 50-day EMA for this movement. Otherwise, the price can fall again if it gets rejected from the EMA.
What Indicators Say About the XLM Price
Relative Strength Index (RSI)
The RSI line is presently moving at 36.86 points and the SMA 14 is moving at 36.88 points. Both are above the neutral level of 50. The RSI went into the oversold region and from there the RSI line bounced and started moving upwards. Presently, it is soon going to cross above the SMA 14, which will be a positive sign for the price.
Moving Average Convergence/Divergence (MACD)
The fast blue line moving average is moving below the red slow line moving average. The histogram is showing low volumes, which is a bearish sign for the price.
XLM LIVE CHART
Conclusion
The overall analysis of the XLM coin shows that the price is currently getting rejected from the bearish trendline. The price has to break this trendline with a good amount of volume to gain bullish momentum. If the price gets rejected again from the trendline, then it will continue its fall.
Technical Levels
- Support Level: $0.11 and $0.095
- Resistance Level: $0.14, $0.16 and $0.20
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.