By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CryptoCommunityCryptoCommunity
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • BTC
  • ETH
  • USDT
  • USDC
  • BNB
  • BUSD
  • ADA
  • XRP
  • SOL
  • DOGE
  • DOT
  • MATIC
Reading: Stellar Price Moves To A Lower Level, Can The Bulls Defeat This Resistance Mark?
Share
Aa
CryptoCommunityCryptoCommunity
Aa
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Search
  • Home
  • General
  • Blockchain
  • Crypto
  • DeFi
  • Metaverse
  • NFT
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
CryptoCommunity > Blog > crypto > Stellar Price Moves To A Lower Level, Can The Bulls Defeat This Resistance Mark?
crypto

Stellar Price Moves To A Lower Level, Can The Bulls Defeat This Resistance Mark?

admin Published September 27, 2022
Last updated: 2022/09/27 at 9:49 AM
Share
SHARE

[ad_1]

Stellar price has continued to travel south over the last 24 hours. On the last day, XLM lost more than 6% of its market value.

Contents
Stellar Price Analysis: One Day ChartTechnical Analysis

Stellar has recorded positive price sentiment recently, owing to an update that spread optimism across the XLM community.

In the latest update, Stellar users can now transfer USDC and Stellar Lumens via email. Despite the update, technical indicators have sided with the bears on the one-day chart.

The buying power has fallen considerably, even though the number of buyers is greater compared to the number of sellers.

In the last week, Stellar price went up close to 7%. However, at press time, the bulls look exhausted. The present support zone for XLM stands between $0.111 and $0.106, respectively.

A fall from the $0.106 mark will lead the Stellar price to touch the $0.99 price mark.

Broader market support will be necessary for most altcoins to recover. If buyers don’t pick up momentum and XLM doesn’t topple above the 20-SMA, then the altcoin is in for a further drop in price.

Stellar Price Analysis: One Day Chart

Stellar was priced at $0.112 on the one-day chart | Source: XLMUSD on TradingView

XLM was trading at $0.112 at the time of writing. The coin could not hold onto its weekly gains and fell on its chart as a result of declining buying strength.

It is important for the bulls to defend Stellar at the $0.111 level, else Stellar price could drop down to $0.106. Once the coin touches the $0.106 mark, it could also fall near the $0.99 level.

Overhead resistance for the coin stood at $ 0.116. A move above that level could push the coin to $0.119. The amount of Stellar traded in the past trading session declined, indicating a fall in buying strength.

Technical Analysis

Stellar Price
Stellar registered a decline in buying power on the one-day chart | Source: XLMUSD on TradingView

XLM was still not in the excess selling territory, but if buyers continue to decline, sellers will soon take over.

Stellar has had a good past week, but the bulls failed to move past the $0.116 resistance mark, causing the coin to depreciate in price.

The Relative Strength Index was right on the half-line, and that is an indication of an even number of buyers and sellers.

A fall in demand will immediately push the price of Stellar below the 20-SMA line. This would mean that the sellers were driving the price momentum in the market.

Stellar Price
Stellar indicated buy signal on the one-day chart | Source: XLMUSD on TradingView

There could be a chance for Stellar to redeem its price given that XLM continued to display a buy signal on the one-day chart.

The Moving Average Convergence Divergence measures the price momentum and the overall price direction of the altcoin.

The MACD continued to form green signal bars that correlate with the buy signal for the coin. Although the green histograms were declining on the chart as a sign of increased selling strength, sellers had not taken over yet.

The Parabolic SAR displays the price action of the altcoin. The dotted lines below the price candlestick mean that XLM could rise on its chart again with sustained demand.

[ad_2]

You Might Also Like

How to earn bitcoins fast

How to Tell If a Cryptocurrency is a Scam or Not

Tips to Avoid Losing In Cryptocurrency Trading

How to Sell Products Online with Bitcoins – The Ultimate Guide

Get a Cryptocurrency Trader Certification to Get Ready For The Big Game!

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
admin September 27, 2022
Share this Article
Facebook TwitterEmail Print
Share
Previous Article Finally, a Roomba that vacuums and mops
Next Article Regate modernizes accounting and financial tools

Latest News

earn bitcoins fast
How to earn bitcoins fast
crypto
Cryptocurrency is a Scam or Not
How to Tell If a Cryptocurrency is a Scam or Not
crypto
Losing In Cryptocurrency Trading
Tips to Avoid Losing In Cryptocurrency Trading
crypto
Sell Products Online with Bitcoins
How to Sell Products Online with Bitcoins – The Ultimate Guide
crypto

You Might also Like

earn bitcoins fast
crypto

How to earn bitcoins fast

4 Min Read
Cryptocurrency is a Scam or Not
crypto

How to Tell If a Cryptocurrency is a Scam or Not

8 Min Read
Losing In Cryptocurrency Trading
crypto

Tips to Avoid Losing In Cryptocurrency Trading

6 Min Read
Sell Products Online with Bitcoins
crypto

How to Sell Products Online with Bitcoins – The Ultimate Guide

5 Min Read

Crypto Community

  • Home
  • Crypto Calculator
  • Blog
  • Contact Us
  • Privacy Policy
  • Disclaimer
  • Terms and Conditions

Real time Cryptocurrency

  • Crypto Prices
  • Dogecoin price
  • Shibainu coin price
  • Bitcoin Price
  • Cardano Price
  • Litecoins Price

Cryptocurrency Price USD

  • Bitcoin price USD
  • Ethereum price USD
  • Tether price USD
  • BNB Price USD
  • Cardano Price USD
  • Solana Price USD
  • Peps coin Price USD
  • floki inu Price USD
  • SIA coin Price USD
CryptoCommunityCryptoCommunity
Follow US

© 2022 Cryptos Community All Rights Reserved. All logos and images used on this website are registered trademarks of their respective companies. All Rights Reserved. Cryptos Community is not liable for inaccuracies, errors, or omissions found herein. For the removal of copyrighted images, trademarks, or other issues, Contact Us. 


Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?