Stellar price analysis: XLM price headed back to $0.70

Stellar price analysis reveals that the Stellar (XLM) price is looking bearish on the four-hour and one-day charts since the price is has failed to break past previous resistance.

Stellar price is down by over three percent (3%) in the last twenty-four hours (24hrs) alone, according to the Trading View market overview statistics.

Stellar currently has a market cap of about one and a half billion dollars ($1.45B), with the trading volume a little over sixty and a half million dollars ($60.513) mark.

Stellar price analysis: XLM price headed back to $0.70 2Stellar price chart by Trading View

Stellar price analysis: Resistance/Support

On the four-hour charts, XLM price some recovery only to fall further down to the current price level of $0.73.

With new support at the $0.0745 mark after it broke its initial support at $0.076 which had it in the safe zone.

A massive downfall for stellar awaits past this support point at 0.05 if the traders can’t manage to rake in more Stellar by the minute to save the $0.072545 mark.

Stellar price analysis: XLM price headed back to $0.70 3Stellar price chart by Trading View

The fifty (50) day estimated moving average (EMA), the twenty (20) day simple moving average (MA) and the relative strength index all show bearish signs in the short term XLM price analysis.

Moving above the twenty-day (20) moving average will station XLM price in the green zone where the might take over. A bullish rally to propel XLM price above the fifty (50) day moving average will surely get it straightened out.