- XLM price analysis is bearish for today, down by 3.78%.
- XLM/USDT price action found resistance at $0.3959.
- Major support is present at $0.3638.
XLM price analysis is bearish for today, down by more than 3%. With the bears taking over the current market movement, Stellar wasn’t able to break the resistance at $0.3959. Although, it is possible that we might see this level broken in the near future.
Data from CoinmarketCap shows that the token’s trading volume rose by 52.25% and is currently at $983 million. On the other hand, the currency’s market cap dropped down by 2.84%, at 9 billion USD.
The 24-hour highest price was $0.3977, while the highest was at $0.3735. Thursday day started at $0.3980, while the highest price for the day is $0.3980. Furthermore, the lowest for today is $0.3712.
Furthermore, the XLM/USDT pair has seen huge prices surges in the month of October, currently up by 35.77% for the month of October. On the other hand, the prices dropped by more than 17% in September while rising by more than 19.3% in August.
XLM price analysis using technical indicators on a 1-day chart
The technical indicators on the 1-day chart are turning bearish as the price action failed to break out from the upper end of the Bollinger Bands. The price action is still in the upper end of the Bollinger Bands, indicating that bulls are still in charge.
The 50-day and 100-day Moving Averages remain below the price movement, indicating that the lines will act as support.
XLM price analysis shows that the RSI indicator progresses with a negative gradient and that lower prices might follow. Furthermore, the reading is below 60, as the price is dropping into the bearish zone.
The MACD indicator shows that the MACD line and the signal lines are coming closer. If this continues, we might have a bearish crossover, throwing the price action in the clutches of bears for a number of days.
The XLM price analysis can be concluded on a bearish note for today, which might be a cool-off period after the huge gains we witnessed the previous day. Although, if you are in it for the long term, do check out our long-term price predictions.