- Stellar price is trading inside the consolidation phase over the daily chart.
- XLM crypto is trying to recover till 20 EMA and is still behind 50, 100, and 200-days Daily Moving Average.
- The pair of XLM/BTC is at 0.000005335 BTC with an intraday gain of 0.99%.
Since June 24, Stellar’s price has stayed constant inside a range-bound zone. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets in spite of the bitcoin market’s extraordinary volatility. As it teeters at a record low, XLM is one of the digital currencies going through an existential crisis. Investors in cryptocurrencies need to be as rock-solid as those with diamond hands during this tumultuous time. As opposed to other players, diamond hands won’t be as eager to sell their holdings.
XLM is currently trading at $0.106, an increase in the market value of 2.26% from the previous day. The trade volume has increased by 37.43% during intraday trading. This indicates that buyers are trying to tighten their grip over the XLM coin. The volume to market cap ratio is 0.03215.
The Stellar coin’s price is plainly falling on the daily price chart. The cryptocurrency asset has returned to the consolidation phase near the 2020 lows as a result of the market’s continuing decline. More purchasers must enter the market if the price of the XLM currency is to rise back to the higher price range of the consolidation phase. XLM’s price has remained stable between $0.100 and $0.130. For the XLM currency to cross the daily chart, the volume change, which is now modest in comparison to the average, must rise.
What do Technical Indicators suggest about XLM?
The price of XLM is rising on the daily price chart. The XLM coin has to gain support from buyers in order to rise fast toward the top price range of the consolidation phase. Technical indicators show the strength of the upward trend for the XLM coin.
The relative strength index shows a decline in the value of the XLM coin (RSI). The RSI is about to break out of neutrality at 44. The MACD for the cryptocurrency XLM shows a bullish momentum. The MACD line is above the signal line following a positive crossover. XLM investors should keep an eye on the daily chart for any changes in trends.
Conclusion
Since June 24, Stellar’s price has stayed constant inside a range-bound zone. The cryptocurrency market saw panic selling as a result of this existential crisis. Investors are attempting to hold onto their own assets in spite of the bitcoin market’s extraordinary volatility. As it teeters at a record low, XLM is one of the digital currencies going through an existential crisis. XLM’s price has remained stable between $0.100 and $0.130. For the XLM currency to cross the daily chart, the volume change, which is now modest in comparison to the average, must rise. Technical indicators show the strength of the upward trend for the XLM coin. The MACD line is above the signal line following a positive crossover. XLM investors should keep an eye on the daily chart for any changes in trends.
Technical Levels
Support Level: $0.103 and $0.100
Resistance Level: $0.110 and $0.115
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.
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