- Stellar Lumens price analysis indicates bearishness in the next 24-hours.
- XML/USD has been trading with an intraday range of $0.2993 – 0.3057
- 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 fought to push through a downward channel during the final hours of yesterday’s trading before being rejected near $0.3602.
The upper Bollinger band was breached, and the coin began the daily chart at an intraday high of $0.2726 before being quickly pushed back to $0.2609. From here, the market may go anyway; nevertheless, our indicators suggest that we should expect losses in the next 24 hours.
Stellar Lumens price analysis in the last 24 hours: XML/USD struggles to beat the $0.3100 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. The total trading volume for all cryptocurrencies decreased by 7.7 percent to $5.9 billion on the previous day, according to
The MACD histogram has been printing a few tiny red bars since yesterday, indicating a momentum drop. The relative strength index (RSI) has yet to break below the vital support line, limiting the selling pressure during the previous decline.
However, it is worth noting that the intraday high of $0.36 was broken on September 21 at 6:30 UTC, which indicates that Stellar Lumens price analysis should anticipate resistance levels to be challenged soon.
XML/USD 4-hour chart: XML to rally overnight?
The XLM/USD pair has risen to $0.2733 on this Stellar Lumens price analysis chart, with the bears attempting to apply a pullback pressure. Take-profit traders may be behind the development of a supply zone around this area.
The MACD histogram on our daily Stellar Lumens price analysis shows short red bars, which suggests that the short-term momentum is most likely to be in favor of the bears. Only green bars were visible on the chart a few hours ago, when the price was at $0.2700, in order to combat selling pressure and retest the upside.
With no major news impacting the trading behavior of XLM/USD, it is likely that this pair will continue to develop moderate fluctuations, with our previous analysis being valid for at least another 6-12 hours. Remember that Stellar Lumens price analysis indicates loss in general for cryptocurrency prices during the next 24 hours.
The RSI is now at 37, in the oversold range, and appears to be falling even more. This suggests that the bears have taken control and have a good chance of generating lower highs in the next 24 hours.
Stellar Lumens Price Analysis: Conclusion
The Stellar Lumens price is trapped in a losing downtrend, which may extend into the following 24 hours. Sellers are active near $0.2800–$0.3000. To maintain an established rising channel, more buyers must enter the market to avoid being pushed out of it.
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