Stellar is an open-source protocol for digital currency storage and movement. It is designed in such a way that financial networks all over the world work in tandem on a singular platform. XLM is the prime governance token of this limitless and powerful blockchain ecosystem. Let us look at the technical analysis of XLM. Past Performance On Jul 13, 2021, XLM opened at $0.24. On Jul 19, 2021, XLM closed at $0.21. Thus, in the past week, the XLM price has decreased by roughly 12.50%. In the last 24 hours, XLM has traded between $0.20-$0.23. https://ift.tt/3xRrvAI Day-Ahead and Tomorrow Currently, XLM is trading at $0.20. The price has decreased from the day’s opening price of $0.21. Thus, the market seems bearish. The MACD and signal lines are negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Hence, we can expect the price to fall further. Currently, the RSI indicator is at 36%. It faced rejection at 46% and fell to the current level. Hence, selling pressures are extremely high. Heavy selling activity will exert downward pressure on the price. Besides, the OBV indicator has also fallen steeply. Thus, selling volumes are higher than buying volumes. Hence, the price may decrease further. In a nutshell, all three indicators have given bearish signals. XLM Technical Analysis Currently, the price is below the first Fibonacci pivot support level of $0.204. The price may soon fall below the second and third Fibonacci pivot support levels of $0.197 and $0.186, respectively. Currently, the price is below the 23.6% FIB retracement level of $0.208. It may soon fall below the 23.6% FIB extension level of $0.194. Thus, as of now, the bears are strong. Hence, we can expect the price downtrend to continue tomorrow as well.
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