9.9 C
Amsterdam
29 March 2024
PumpMoonshot
Image default
Altcoins

Stellar price analysis: Bears drag price levels down to $0.38 in latest strike

  • The price has been lowered to $0.376.
  • Stellar price analysis predicts a downtrend.
  • Support is still strong at $0.341 level.

The latest Stellar price analysis is showing signs of a downtrend, as the price has been following a decreasing movement for the last 24 hours. Although the cryptocurrency was under the bullish lead in the prior weeks, the trends have slightly shifted during the past few days. The bears have been successful in making their comeback on the price chart, as the red candlestick is indicating a loss in price up to $0.376.

XLM/USD 1-day price chart: Bearish resistance results in declining trend for XLM

The one-day Stellar price analysis is confirming a decline in coin value, as the price has been following a bearish trend for the day. The circumstances are turning favorable for the sellers, as the past weeks observed a constant improvement in the XLM market price. Nonetheless, a downturn in price occurred today which is why the price has been lowered to $0.376 point. The moving average (MA) is still quite low and is present at $0.362 marker.

Stellar price analysis: Bears drag price levels down to $0.38 in latest strike 1

The SMA 50 curve is traveling above the SMA 20 curve as the bearish trend is evidently getting stronger. The increase in volatility has taken the upper Bollinger band value to $0.402 and the lower Bollinger band value to $0.341. The Relative Strength Index (RSI) score has moved down to the 54.61 level.

Stellar price analysis: XLM price backtracks to $0.376 as bears regain dominancy

The price is headed down according to the four hours Stellar price analysis and has reached the $0.376 position. The short-term trending line is also descending as the bears have been showing control over the market for the past few hours. The last four hours have proved damaging for the cryptocurrency value as well as the price declined on a noticeable level. The price is still below the moving average value i.e. $0.378.

Stellar price analysis: Bears drag price levels down to $0.38 in latest strike 2
XLM/USD 4-hours price chart. Source: TradingView

The Bollinger bands indicator is showing an average of $0.372 now. Whereas its upper band has been relocated to $0.388 point and its lower band is present at $0.357 point. The strong drop in price has resulted in a decrease in RSI score as well, and currently, the score is at 53.36.

Stellar price analysis: Bears drag price levels down to $0.38 in latest strike 3
XLM/USD technical indicators chart. Source: TradingView

The technical indicators chart for XLM/USD is indicating a relatively positive trend, as the price has been advancing quite smoothly since the past few weeks. This general observation is being confirmed by the indicators ratio as well. There are 13 indicators on buying position, 10 indicators on neutral position, and three indicators on selling position.

The moving averages indicator is further confirming the bullish trend as well by giving a strong buying signal. There are a total of 13 indicators on the buying position, while one indicator each is present on the selling and neutral positions. The Oscillators are showing a negative trend for the day, and there are nine indicators on the neutral level, two indicators on the selling level, and zero indicators on buying level.

Advertisement

Stellar price analysis conclusion

A decline in price has been observed during the day, which is why the XLM/USD has been devalued to the $0.376 level. Although the bullish momentum was on its way to recovery in the earlier weeks, a change in price movements has been recorded. The price might touch lower points in the upcoming days, as both the hourly and daily price charts are showing a bearish trend.

Related posts

Ethereum Sheds A Quarter Of Its Price As Whales Dump $4 Billion In ETH

PumpMoonshot

Online Retail Giant Newegg Starts Accepting Dogecoin

PumpMoonshot

Bitcoin Poised for ‘Bonkers’ Bull Run, Predicts Crypto Analyst

PumpMoonshot
Verified by MonsterInsights