- Stellar Lumens price analysis indicates bearishness in the next 24-hours.
- XML/USD has been trading with an intraday range of $0.2605 – 0.2726
- The MACD histogram indicates short red bars
The Stellar Lumens price analysis is bearish on the 24-hour session, with a 1.54 percent retracement taking place overnight. The bulls attempted to overturn a descending channel during the final hours of yesterday’s session before being rejected at $0.3602.
As a result, the coin opened the daily chart at an intraday high of $0.2726 but was quickly pushed back to the $0.2609 mark. The market could go any side from here, but our indicators suggest that we should anticipate losses in the next 24 hours.
Stellar Lumens price analysis in the last 24 hours: XML/USD struggles to beat the $0.2740 mark
According to this Stellar Lumens price analysis, the range for XML/USD is $0.2605 to $0.2726. The moderate range indicates that volatility is equally dispersed over the 24-hour chart. On the previous day, Stellar Lumen’s total trading volume fell by 3.5 percent, totaling $608 million. Meanwhile, the total trading volume for all cryptocurrencies dropped by 7.7 percent to $5.9 billion.
As a result, the MACD histogram has been printing several small red bars since yesterday, indicating a downward trajectory in momentum. The relative strength index (RSI) has yet to break below the critical support zone, mitigating the selling pressure during the recent downturn.
However, it is worth noting that the September 20’s intraday high of $0.36 was breached on September 21 at 6:30 UTC. This suggests that Stellar Lumens price analysis should expect some resistance levels to be reached soon.
XML/USD 4-hour chart: XML to rally overnight?
On this Stellar Lumens price analysis chart, the XML/USD pair has increased to $0.2733, and the bears are attempting to apply a pullback pressure. Take-profit traders may be responsible for creating a supply zone around this location.
The MACD histogram on our daily Stellar Lumens price analysis reveals short red bars that indicate the short-term momentum is likely to be in favor of the bears. Green bars were only seen on the chart a few hours ago, when the price was trading at $0.2700, in order to counteract selling pressure and retest the daily
The RSI is currently at 37, leaning against the oversold region, and appears to be sinking further. This indicates that the bears have taken control and have a good chance of creating lower highs in the next 24 hours.
Stellar Lumens Price Analysis: Conclusion
The Stellar Lumens price is trading inside a bearish trend line that might continue into the next 24 hours. Sellers are active near $0.2800–$0.3000. In order to maintain an established rising channel, more buyers must enter the market.
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