- Stellar coin price is trading on a bearish note with lower volume action, and the coin is facing a significant hurdle of a 20-day moving average.
- The digital asset is continuously facing sharp selloff from the higher levels, and presently it is trading below all vital moving averages of 20, 50, 100 and 200-day
- The pair of XLM/BTC is trading with an intraday loss of -1.19% at 0.000007362 BTC, and the ratio of XLM/ETH is dealing positively at 0.0001144 ETH with a gain of +1.14%
Stellar coin price over the monthly chart is projecting a sharp decline while making lower highs and lower lows sequence. Likewise, the XLM coin faces a significant hurdle of a 20-day moving average line and fails to break it. Volume over the monthly chart is recorded lower, and it falls below the average line, which needs to improve in upcoming trading sessions.
The stellar coin needs to suppress the 20 and 50-day short-term moving average line in forthcoming trading sessions with supportive volume action. Once the coin manages to sustain above 20 and 50-DMA line, we can soon see good price recovery. Support on the lower side is at $0.2270 and $0.2000, whereas resistance on the higher side is at $0.2950 and $0.3570.
Stellar Coin Price Built a Bullish Engulfing Candle at the 4-Hour Time Frame
Over the weekly chart, stellar coin price has just built a bullish engulfing candle at the 4-hour time frame. The coin is now witnessing good buying interest near its strong support zone, and the technical parameters are also ready to project bullish momentum. Presently, stellar coin price is trading at $0.2466 with an intraday gain of +1.86%, and the volume to market cap ratio is at 0.07005.
Relative Strength Index (BULLISH): Stellar coin price RSI is presently projecting a positive trend after reaching the oversold zone after a sharp selloff over the weekly chart. In contrast, the RSI is now recovering from healthy correction from higher levels CMP 45.
Moving Average Convergence Divergence (BEARISH): This currently indicates a bearish trend on the daily chart. This is because the seller’s line (red) is overpowering the buyer’s signal line (green), and now a positive crossover is expected.
Support levels: $0.2270 and $0.2000
Resistance levels: $0.2950 and $0.3570.