A Complete Stellar XLM Technical Analysis To Stay Updated

XLM recently overtook Bitcoin Cash in terms of market cap as seen in CoinMarketCap and is currently the fourth largest cryptocurrency in the world, just below Bitcoin (BTC), XRP and Ethereum (ETH).

Current price: $0.159

Market Cap: $3.04 billion

Trade Volume: $534.29 million

XLM Price Analysis Report for 1 day

  • Uptrend

The uptrend for XLM is not in sight as the bear trend is dominating the whole of the cryptocurrency ecosystem.

  • Downtrend

The downtrend, on the other hand, extends from $0.45 to $0.16. Similar to the downtrend in the one-hour charts the trend is following the collapse of the prices.

  • Support

The prices of XLM in the 1-day chart have broken support at $0.17 and have dipped further below. A new support is created at $0.14.

Indicator

Bollinger Band

The Bollinger Bands are expanding after a squeeze period and the prices have decided to touch the lower band and reach out of it, indicating that the prices are oversold for XLM.

Aroon

The Aroon indicator shows uptrend has exhausted more in comparison to the downtrend, while the Aroon downline [Red Line] is showing massive signs of the downtrend.

XLM Price Analysis for 1 hour

Uptrend

XLM prices have seen an uptrend that extends from $0.14 to $0.15 but is exhausting quickly as the prices are dropping.

Downtrend

The downtrend for XLM extends from $0.25 to $ 0.17, but the prices have decided to dip further down as indicated in the price chart.

Support

The only support for XLM is established at $0.`3, as it breached every other support set up previously.

Resistance

XLM has to break few Resistance points at $0.20, $0.22, and $0.24 to start the next rally.

Indicators that affect the XLM Price

Relative Strength Index

The RSI is on a downtrend, indicating that buyers have run out of power, and the sellers are slowly getting into the market.

Relative Vigor Index

The RVGI index shows a bearish crossover to the bottom indicating a bearish presence in the market for XLM.

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The post A Complete Stellar XLM Technical Analysis To Stay Updated appeared first on Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide.

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