Stellar price analysis: XLM receives massive shock as price levels sink to $0.34

Stellar price analysis Bulls continue ruling the charts as the price is now positioned at

TL;DR Breakdown

  • The latest Stellar price analysis shows a major change in market trends.
  • After a tremendous rise, price shockingly goes down to $0.34.
  • Buyers still retain an upper hand over the market, as support continues to be $0.32.

Stellar price analysis is indicating a noticeable shift in the market trends, today. The price value, after reaching a new height, stooped to a new low at $0.34 as per the Stellar price analysis. The weekly analysis, however, has seen bulls taking the lead and taking the coin value to $0.34. It can further be predicted that the price levels will go higher as the trend line is supporting Stellar price.

Stellar price analysis: 1-day XLM/USD chart promises retrace towards $0.34

The one-day Stellar price analysis observed a sudden drop in price, against the ongoing bullish wave. Cryptocurrency overcame the sudden pressure from the bears, and the price levels have improved to $0.38 today. It is expected they will achieve a new high above the resistance level if they continue to jump higher.

The moving average (MA) is showing us the average value as calculated during the month, i.e. $0.35. The past week has helped the price climb up, this resulted in an unusually high Relative Strength Index (RSI) score of 69.70 as well.

Stellar price analysis: XLM receives massive shock as price levels sink to $0.34 1
XLM/USD 1-day price chart. Source: TradingView

As the past week has experienced a sharp bullish trend, the volatility is also moving towards the bullish side and constantly increasing. The Bollinger bands are expanding and the upper band has reached the price level of $0.39, while the lower one simultaneously reached $0.23.

XLM/USD 4-hours chart: price continues to recede below $0.34 as selling momentum intensifies

The 4-hours XLM/USD progress reports a major decline in the coin value to $0.348. There has been a constant clash between the bulls and the bears today, as the price levels kept fluctuating. The Bollinger band average is showing a $0.34 value, with decreasing volatility.

This hints at a future rise in price, as the upper band lowers to $0.40 and the lower one to $0.32. The moving average, on the other hand, is showing us the collective average of $0.382 in the candlestick chart.

Stellar price analysis: XLM receives massive shock as price levels sink to $0.34 2
XLM/USD 4-hours price chart. Source: TradingView

As a greater number of red candlesticks emerged today, the RSI score has lowered to 53.7. Also, we can see that at the end SMA 50 has crossed SMA 20, which is a major bearish indicator.

Stellar price analysis: XLM receives massive shock as price levels sink to $0.34 3
XLM/USD technical indicators chart. Source: TradingView

The general trend observed during the day has been neutral, as both the buying and selling parties have given tough competition to each other. The summary is telling us that a total of thirteen indicators are at the buying point, nine at the neutral while four are at the selling point.

The moving averages reflect the progress of the coin value during the entire day and are towards the bullish side. There are twelve indicators under the buying heading, one under the neutral and two under the selling one.

The oscillators tell us that both the bulls and bears have effectively participated making the trend neutral. There are eight oscillators as neutral, two as sellers whereas one stands as a buyer.

Stellar price analysis conclusion

The Stellar price analysis informs that the past week has been beneficial for cryptocurrency. The short-term trend line, as observed from the charts, has been going upwards.

The RSI score of 70, is a positive sign for the bulls and encouraging the buyers to buy more assets and add to the coin value. The market sentiments have been partial towards the bulls, as the resistance level set a new high at $0.39.

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.

Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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