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Stellar Lumens price analysis: XML/USD is bullish for the next 24 hours

Terra Price Analysis

TL;DR Breakdown

  • 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 indicator shows bullish signals.

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 break through a downward channel during the final hours of trading yesterday before being pushed back near $0.3602.

The Bollinger band was broken, and the coin rose on the daily chart to an intraday high of $0.2726 before being swiftly reverted to $0.2609. From here, the market may proceed in any direction; nevertheless, our indicators suggest that we will lose money in the following 24 hours.

The hourly chart for XLM/USD shows that price has fallen to $0.2903 at present, after trading as high as $0.3191 an hour before. The Bollinger bands are now extremely tight, suggesting a volatile session ahead of us today, which is supported by the fact that the MACD histogram indicates short red bars.

Stellar Lumens price analysis in the last 24 hours: XML/USD struggles to beat the $0.3100 mark

The average price of one Stellar Lumen is $0.2564, according to the Stellar Lumens price analysis. The middle range indicates that volatility is equally dispersed over the 24-hour chart. According to CoinMarketCap, overall cryptocurrency trading volume fell by 7.7% to $5.9 billion on Monday. This suggests that traders are still licking their wounds after the 9.29 percent increase in the previous day.

According to this Stellar Lumens price analysis, the probability of an upward breakout is practically nil, but if it does occur, the resistance will be at $0.3197 and $0.3390.

SINCE YESTERDAY, the MACD histogram has shown a few little red bars, suggesting that the momentum is declining. The relative strength index (RSI) has yet to break below the key support line, preventing additional selling pressure during the prior downturn.

The intraday high of $0.36, set on September 21 at 6:30 UTC, proved to be resilient, and the price subsequently crashed to new lows.

XML/USD 4-hour chart: XML to rally overnight?

On this Stellar Lumens price chart, the XLM/USD pair has advanced to $0.2733, with bears attempting to create a pullback pressure. Take-profit traders might be responsible for establishing a supply zone around this area.

Stellar Lumens price analysis: XML/USD is bullish for the next 24 hours 1Source: TradingView

The MACD histogram in our daily Stellar Lumens price analysis reveals short red bars, suggesting that the short-term momentum is leaning toward the bears. Only green bars were observable on the chart a few hours ago, when the price was at $0.2700, to combat selling pressure and retest the upside.

With no significant news affecting the XLM/USD trading, this pair will probably continue to exhibit modest fluctuations for at least another 6-12 hours. Remember that the previous 24-hour Stellar Lumens price analysis indicates a bearish trend for cryptocurrencies in general.

The RSI is presently at 37, in the neutral zone, and appears to be falling even more. This suggests that the bears have taken control and have a good probability of generating lower highs in the coming 24 hours.

Stellar Lumens Price Analysis: Conclusion

In the last 24 hours, the price of Stellar Lumens has been trapped in a losing trend, which could continue for another 24 hours. Sellers are active near $0.2800–$0.3000. To prevent being driven out of an established rising channel, more buyers must enter the market to keep it going.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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