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- Stellar trades at $0.053, after marking a fresh 7-day low at $0.0521
- The coin is facing major resistance from $0.0562 after it records a fall from $0.0582
- XLM coin gains no active support from the moving averages
Stellar’s downtrend is quite emphasized, as observed from the 10-day movement of XLM against USD on Coinbase. Just like any other altcoin, the uptrend was hit by the coin’s incapability to rise through a $0.056 resistance area. The red candles of the price trend have taken a reversal move and have bottomed out at $0.0521 in the given time frame.
Stellar Price Prediction
Analyzing the hourly movement of XLM to USD on Coinbase, we see that the coin is on a continual downswing after having a temporary zone out at $0.0582. The downtrend was prominent enough at the very starting of the last trading month of 2019.
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The volatility is such that the sheer rise of a single green candle mounting at $0.058 could not really turn the tables as the MACD and RSI had a marginal upward move.
Unable to hold the illusionary height it had hit in the past week; it is currently bottoming out to gain support from the short-term moving averages.
According to Stellar Lumens prediction, the coin is currently trading with dense selling pressure and should have a persistent move above $0.056 to gain long-term support after 20-day MA.
Technical Indicators
The MACD of XLM is running below 0 but has a slight bullish crossover as the MACD line has hit the Signal line from below.
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The RSI of the coin is also rising above the oversold region, and is currently at 43.95, holds no extremities at present.
