XLM Traders May Want to Retest Key Resistance Level Once More -Breaking
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Traders in XLM might want to retest key resistance levels once again- XLM has seen a price drop of around 2.79% in the last 24 hours – taking the price down to $0.1793.
- The market capitalization of XLM currently stands at $4,445,557.554.
- Technical indicators do not confirm a clear directional movement for XLM’s price.
According to CoinMarketCap, Stellar (XLM) has seen a similar price drop to other top cryptos in the market over the past 24 hours.
Ranked number 30 on CoinMarketCap’s list of the biggest crypto market caps, XLM has seen a price drop of around 2.79% in the last 24 hours – taking the price down to $0.1793. The market capitalization of XLM currently stands at $4,445,557.554, which places it between FTX Token’s market cap (FTT), with a $5,321,547.602 market and Algorand’s (ALGO), with a $4,268,204.461.
Outlook for XLM is not yet clearly stated (Source: TradingView).
The daily chart for reveals that the daily trading volume of has been constant. Most of it is selling volume, which began in the middle of each month. The resistance level at $0.2 is present as XLM’s price has repeatedly tested it. In the following week, this resistance level may be tested once again.
Given that the 15 EMA and 50 EMA have not formed a clear break away and given their almost parallel gradients when compared to each other, it’s fair to say that there has been no clear decision of whether the outlook for the coin is bullish or bearish.
It appears that the bears are in control at this stage, as the selling and buying pressure is somewhat stronger. The speed of the downs price movement appears to be slowing, as MACD’s histogram also shows a little bit of decisiveness.
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