- Stellar (XLM) moves back to lower level along with 5% intraday loss.
- Bulls are waiting at the 20-day moving average to accumulate XLM coin over daily price scale.
- The XLM coin belonging to the Bitcoin pair is down 2.1% recorded at 0.0000050 Satoshis.
The Stellar coin (XLM) found the immediate bullish hurdle at $0.115 mark, bulls barely managed to keep asset prices in higher zones but after all they failed. Resulting in, XLM coin is started moving lower early intraday trading session.
The price action of Stellar coin has been fluctuating amid a wide horizontal range of $0.10 and $0.13 support and resistance for the past several weeks. Both-Bears and Bulls- manage to dominate XLM coin, hence, price see’s pump and dump in these volatility zones. Any breakout and breakdown may bring opportunity for traders.
Last week 60 day low level supported bulls thus buyers reclaimed 7.5% last week. Later on, the price is observing a decline of 5.5% so far this week. And, bears became extremely offensive today, as a result, XLM coin against the USDT pair is trading at $0.108 Mark along with 5% intraday drop.
In terms of the daily price scale, buyers got a higher price rejection at 50-day moving average, now Bulls are waiting at the 20-day moving average to accumulate XLM coins over the daily price scale. Moreover, the XLM coin belonging to the Bitcoin pair is down 2.1% recorded at 0.0000050 Satoshis.
Bulls May Feel Save as Parabilc SAR is Below the XLM trading Price
In terms of the daily price scale, XLM crypto price is trading above the Parabolic DAR indicator despite today’s decline. On the other hand, the RSI indicator moved below the semi-line today.
Conclusion
The Stellar coin (XLM) registered a sudden decline in price in the intraday trading session. Parabolic SAR indicator is remaining far below the current price of XLM, so buyers may recover asset price again near the 60-day low.
Support level- $0.10
Resistance level- $0.13 and $0.20
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/09/21/stellar-price-analysis-xlm-fell-down-as-bears-sold-coin-at-50-dma/