- Stellar Lumens fails to sustain an uptrend; volatility persists especially on the downside
XLM coin’s price trend is making some crazy swings with a strongly volatile approach. This is keeping a stable sentiment away from the coin as it finds it difficult to have a firm hold over an uptrend.
The whole second half of the previous month has been quite rough for the market, including Stellar. Yesterday, it just resumed the same vibe as it faced a few ups and downs. The currency opened at $0.040, and after forming higher highs, it went up to hit the $0.041 mark.
- Rejection took the XLM price even below $0.040
After the price rise of 2.40%, it couldn’t go beyond $0.041. After having one more spike above $0.041, it started a steep downward journey, which saw an end at $0.039. Here, the bullish trendline has also been breached, and the moving averages have just formed a bullish crossover.
Today, XLM coin has tried to recover, but it couldn’t trade above the 38.20% Fib level. Now, the coin is looking for a reliable support level to strike another rebound. The coin, right now, is approaching the 0% fib level with a bearish bias. Stellar price has slipped below its yesterday’s opening price recently.
Bollinger bands are showing no signs of volatility for the short-term while the XLM coin price has slipped below the 200-day EMA line. RSI is at 38 nearing the oversold zone. Meanwhile, the MACD indicator has just entered the bearish zone. According to XLM predictions and the current chart formation, the coin might face significant fall in the upcoming days.