Stellar Price Analysis: Will XLM Retest $0.12 Level?


  • Stellar shows bearish momentum over the weekend.
  • XLM’s intraday volume stands at $98,137,623.00.
  • XLM/USD pair trading below EMA(20).
  • Stellar currently trades near $0.081

10 June 2023 : In this article we will walk you through Stellar price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Stellar, Is XLM a good investment? Stellar support & resistance levels etc. But before diving deep into the XLM technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $1,043,294,065,354. The total trading volume stands at $48,514,447,582. Bitcoin shares 47.72 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $25,668.83 level after a decline of -3.87%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price decrease of -5.87 percent reaching to $1,744.32 during the previous 24 hours.
While publishing this blog, BNB traded at $236.60, following a price change of -10.19%within the same time frame. XRP the native coin of XRP is down by -9.12 and currently trading at $0.49. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Stellar Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Stellar (XLM)

XLM Resistance Levels XLM Support Levels
Resistance Level 1 $0.12 Support Level 1 $0.11
Resistance Level 2 $0.12 Support Level 2 $0.10
Resistance Level 3 $0.13 Support Level 3 $0.097

Stellar Performance

According to Price Analysis Market Index, Stellar (XLM) is trading at $0.081 with a trading volume of $98,137,623.00. However,XLM has a price decline of -8.17% in the last 24 hours.XLM price changes -13.32% over the week with a total market capitalization of $2,166,131,619.00 USD.

Stellar Price Analysis

XLM price analysis for 10 June 2023 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Stellar.

Moving Averages Price Indicator
Simple Moving Average (10) 0.12 Sell
Exponential Moving Average (10) 0.12 Sell
Simple Moving Average (20) 0.12 Sell
Exponential Moving Average (20) 0.12 Sell
Simple Moving Average (50) 0.11 Sell
Exponential Moving Average (50) 0.11 Sell

The MACD line is standing below of the signal line after a crossover. Stellar investors need to wait for any directional change over the daily chart. The Stellar has break all its supports levels and things are not looking good for the crypto market. Currently, bears are in control of the market and successfully take XLM price below the crucial support level of $0.11. The relative Strength Index (RSI) indicates that the XLM coin is in consolidation zone, as RSI is at 42. While XLM’s Williams %R indicator is at -68.584 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range.

Conclusions

The Stellar market is shown signs of being bearish, and sellers have the potential to drive prices of the cryptocurrency lower in the next few days. Alternatively, The price of XLM might try to break above its resistance level of $0.12. For now the coin is showing negative trend.