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 globe work together on a single platform. XLM is the price governance token of this limitless and powerful blockchain ecosystem. The following XLM technical analysis will predict the price trends for the next two days: Past Performance On Jul 21, 2021, XLM opened at $0.212. On Jul 27, 2021, XLM closed at $0.263. Thus, in the past week, the XLM price has increased by roughly 24%. In the last 24 hours, XLM has traded between $0.26-$0.27. https://ift.tt/375q6uu Day-Ahead and Tomorrow Currently, XLM is trading at $0.261. The price has decreased from the day’s opening price of $0.263. 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 negative. Hence, we can expect the price to fall further. Currently, the RSI indicator is at 32%. It faced rejection at 39% and fell to the current level. Hence, selling pressures are extremely high. High selling activity will exert downward pressure on the XLM price. However, the OBV indicator is downward sloping. Thus, selling volumes are higher than buying volumes. Hence, the price may fall further. In short, all three indicators have given strong bearish signals. XLM Technical Analysis Currently, the price is below the Fibonacci pivot point of $0.263. The price may soon fall below the first, second, and third support levels of $0.256, $0.254, and $0.249, respectively. The price has tested and fallen below the 38.2% FIB retracement level of $0.261. It may further fall below the 23.6% FIB retracement level of $0.259 as well. Hence, as of now, the bears are strong. Therefore, we can expect the price downswing to continue tomorrow as well.
The post XLM Technical Analysis: Price May Soon Fall Below Support Levels of $0.256, $0.254, and $0.249 appeared first on Cryptoknowmics-Crypto News and Media Platform.
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