Stellar (XLM) Price Prediction – May 23
Variant trading activities have been taking place between the XLM/USD buyers and sellers to showcase the base crypto’s valuation is trading under depression against its US coin’s purchasing strength. Less-active move in the trade has made its operations bargain around $0.13 at a 2.95 negative percentage rate.
Stellar (XLM) Price Statistics:
XLM price now – $0.1298
XLM market cap – $3.2 billion
XLM circulating supply – 24.9 billion
XLM total supply – 50 billion
Coinmarketcap ranking – #28
Resistance levels: $0.15, $0.20, $0.25
Support levels: $0.10, $0.075, $0.05
XLM/USD – Daily Chart
The daily chart reveals the Stellar (XLM) market’s valuation is trading under depression as paired against the trade worth of the US currency. There has been less volatility in the trade, hence the having smaller candlesticks of price movements over several sessions until the present. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators have briefly penetrated the overbought region to possibly signify a return of a downward motion is imminent in no time.
Will the XLM/USD market again reach out for resistance around $0.15 soon?
Observantly, Stellar (XLM) is trading under depression against the US Dollar. And, going by the current trading pattern of the XLM/USD market operations, it appears the crypto’s worth will be potentially witnessing a pause for a while around the $0.15 resistance before resuming a downward motion on account of bulls’ inability to sustain their stance at the value line afterward. Therefore, long-position takers may have to wait for a situation change in the trading outlook denoting a rebound after a downside move re-occur to consider a buying order.
On the downside of the technical analysis, the current trading formation in the XLM/USD market operations is experiencing a piling-up pattern beneath the $0.15 resistance level. That will allow a return of a downward move that short-position placers take advantage of profitably, provided the motion is devoid of a quick rebound. The technical point of viewing suggests the current support levels in this analytics write-up will serve as a rebounding series while there is a sharp dip through them.
XLM/BTC Price Analysis
In comparison, XLM may keep downing, pairing with BTC for some time more, as indicated by trading SMA indicators. The 14-day SMA trend line is below the 50-day SMA trend line. The upper bearish trend line drew between the SMAs to play a backing resistance role to the smaller SMA. The Stochastic Oscillators are attempting to move into the overbought region to signify a near-term end to the probability of seeing the base crypto regain more sustainable stances against the counter crypto.
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This post first appeared on: Inside Bitcoins