Stellar Lumens (XLM) Price Analysis: Lumens Price Slips From $0.070 Price Level

  • Stellar Price is experiencing major price corrections due to the overall downtrend in the cryptomarket. 
  • Currently, it is facing an overall loss of -1.00%. 
Source: Coinmarketcap

As reflected in the pricing graph, Stellar lumens XLM is having a significant bearish movement in today’s market. The altcoin broke down the crucial level of $0.070. The downtrend is so significant that it has brought the stellar lumens to the major support level of $0.060.

XLM price, somehow, had the support at the price level of $0.062 and went up to the price level of $0.064 However, the overall market forces pushed XLM down to the major support level of $0.062 again. The market cap is $1,275,413,749 and volume traded is $675,116,808.

The ongoing current downtrend in the market is damaging the price recovery made by stellar lumens XLM in this month, which is expected to recover. A fall below the price level of $0.060 will invite bears into play again.

Stellar Lumens XLM Price Analysis 

Screenshot (5)
Source: Tradingview

The Stellar Lumens price chart reflects on the downtrend of the altcoin which is becoming more significant this month due to overall market conditions. The graph also suggests that XLM has tried to maintain its sustainability at different support levels but failed due to the overall bearish movement in the market. 

The technical indicators and oscillators suggest that the crypto market will see the color of green in upcoming days for XLM.

The 24hour- RSI is again showing downtrending nature which is not a positive sign for the altcoin but still at a strong level of 60. A break below the level of 40 will provide more bearish momentum.

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The 24hour-CCI touched the oversold region. However, the positive divergence looked strong to reach the normal territory and succeeded. This indicates that bulls are on the stronger side and XLM can face further downfall.

Resistance level: $0.075 and $0.070

Support level: $0.062 and $0.060

The post Stellar Lumens (XLM) Price Analysis: Lumens Price Slips From $0.070 Price Level appeared first on CryptoSyringe: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.


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