Stellar (XLM) Records a Bearishness After Recent Hike

Stellar (XLM) is priced at $0.22 and has shown an intraday movement of 4% yesterday. During the last few days, the coin has started to ascend from its support zone but hasn’t yet crossed the previous peak of $0.25. Currently, the XLM coin is facing bearish pressure trying to push the price down may take the price to its lower peak of $0.20. 

As there hasn’t been any favorable volume towards the bulls or the bears, there is indecision about the upcoming price move. Since January end, the coin has been moving sideways in between the price range of $0.25 and $0.16. The coin has been profitable for the bulls during the past three weeks, as the coin showed a considerable price rise. The XLM coin has faced rejection at the recent highs of $0.24, and not being able to close above it can be an opportunity for the bears as the coin may head towards the support line. The bands show that the price has breached the upper band but couldn’t close above it and has started to decline. The MACD line being below the Signal line with a histogram chart denoting a red candle indicates a bearish signal. Based on Stellar price prediction, the coin might record a moderate momentum for the near term before making any significant movement. 

On the upside, if the price of Stellar Lumens breaks above the top horizontal line of $0.25, a strong bullish momentum can be expected. However, if the XLM price closes below the bottom horizontal line of $0.16, a strong downside momentum can be expected further. The price moving in the sideways channel shows that neither the bulls nor the bears are giving a major push to the price.