- Stellar lumens price trading at $0.165791 at press time.
- Bears dominate the short-term charts while mid and long-term charts suggest bearish turnover.
- Price expected to reach $0.150 and may decline to $0.100 if buyers fail to defend support level.
Stellar Lumens price prediction: Today’s price overview
Stellar Lumens (XLM) price opened at $0.132209 with slight bearish momentum that dominated the price action for most of the day. The price action has been moving in a descending channel as bears dominate the market. Currently, the price is trading at $0.165791, showing a 14.13 percent decline from the day’s opening price.
Stellar Lumens price across the last 72 hours
Stellar Lumens price started the session with strong bullish momentum that died soon. The price action turned bearish at 04:30 on November 24 as the price retraced from above $0.180 to $0.140. The buyers found support at the level and initiated a bull rally, which carried the price above $0.220 with wave-like activity. However, the price action could not find support at the level and started declining in late November 25. Since then, the price action has been moving inside a descending channel, with the support level being tested twice.
On the technical indicators, the MACD shows declining bullish momentum as the two EMAs converge. Meanwhile, the RSI remains neutral despite the bearish activity suggesting further downwards movements.
XLM USD November chart
Stellar Lumens price started the month at $0.077737 with slight bearish momentum. In the above chart, the price action seems to be consolidated before the recent bull rally. The price moved between $0.074 and $0.084 until November 21, when the price climbed above the $0.10 level. The price action found support at the level, and buyers initiated a bull rally raising the price above $0.20 before meeting resistance.
The bulls were met with strong resistance at the price level, which caused the price to fall to the $0.15 level before finding support.
On the technical indicators, the RSI has shrunk to the neutral territory after the recent rejection. Previously, the indicator was suggesting significant overbought conditions. Currently, the MACD shows bearish momentum with the two EMAs moving further apart from each other.
Stellar Lumens price prediction: Where is XLM price heading?
XLM price started the year at $0.04467 with slight bullish momentum that dominated the market throughout the year. The price ascended to $0.08750 before meeting strong resistance and failed to close above. Following the rejection, the price declined to $0.05, where it found strong support to initiate a bullish reversal.
Between mid-March and mid-June, the bulls carried the price above the $0.750 level with wave-like bullish activity. At that level, the bulls appeared exhausted as the price started declining. However, the bulls regained momentum and continued with the wave-like momentum till mid-August. Since then, the price action has been consolidating until the recent bull rally.
Currently, the RSI shows significant overbought conditions, but with the latest retracement, it seems that the indicator is heading back to neutral territory. Meanwhile, the MACD shows that the momentum is still bullish, but the two EMAs are beginning to converge, suggesting that there might be a trend reversal ahead.
As Bitcoin price declines from its $19,000 high, altcoins are likely to follow suit. With a converging set of EMAs and a relatively high RSI, XLM price can be expected to continue its downward movement. If the price closes below $0.15 on the daily session, the next support lies below $0.10.