Stellar Price Analysis: – The price is near support and the bulls trying to drive the price up, will they succeed?
- The trading volume of XLM Coin in the last 24 hours at the time of writing this article is -11%
- The price of XLM / BTC and XLM / ETH at the time of writing this article is 0.000005812BTC and 0.0007934ETH, respectively
- The price takes great support at 50MA
Long-term view: –
In the daily chart time interval we can see that the bears are taking control of the price and driving it down. Also, the price is near the support, now we can see the bulls putting pressure on the bears too. Let’s look at technical analysis to see if price holds the support or the bears break it. First we can see the MACD showing red histograms, which means that the MACD line has crossed the signal line and started showing red histograms, a bearish signal. Additionally, we can see that the RSI is in the neutral zone near 47. Also, the RSI line points to the oversold zone of 30, which means that the bears are winning the battle against the bulls. Finally we can see the moving average as the 20MA is above the 100MA. Also, the 20MA is above the 50MA, but the 50MA is below the 100MA which is a bearish sign.
Short term view: –
Every 4 hours. The MACD also shows red histograms because the MACD line is below the signal line, but the MACD line is very close to the signal and they can soon cross depending on the volume. Additionally, we can see the RSI which is in the neutral zone at 37 and the RSI line is pointing towards the overbought zone at 70, which means that the bulls are winning the battle against the bears. Finally we can see the moving average as the 20MA crosses the 100MA and 50MA which is a bearish sign and the 50MA is also moving towards 100MA and could cross soon.
In both the long-term and short-term, we see that price is close to support in the 4 hour time interval and may recover if the bulls maintain pressure on the bears and we see a green histogram after a bearish move. As we can see, the RSI indicates the overbought zone at 70. Also, the MACD line is very close to the signal line so they can cross soon, which will be a buy signal for the bulls. If the bulls can’t keep the pressure up, the bears will keep the price lower
Resistance: – $ 0.3711, $ 0.3909
Support: – $ 0.3327, $ 0.3064