Stellar (XLM) Price Weakens as Indicators Turn Bearish
The price of Stellar (XLM) has fallen by more than 10% in the past 24 hours, but is still up 94.07% over the past week, leading to gains among the top 100 cryptocurrencies. Indicators such as relative strength index And the Ichimoku Cloud suggests that bullish momentum is waning as XLM faces increasing selling pressure.
If the downtrend continues, XLM may test the key support level at $0.099. However, a recovery could push it back to $0.638 and possibly as high as $0.70.
XLM RSI slides into neutral zone
star The RSI is currently at 48.31, down from over 70 when XLM hit its highest price in three years at $0.60. The RSI, or Relative Strength Index, measures momentum on a scale from 0 to 100, with values above 70 indicating overbought conditions and values below 30 indicating oversold conditions.
The decline in the RSI reflects the weakening bullish momentum as XLM faces a correction.
The RSI is 48.31, and XLM is in neutral territory, neither overbought nor oversold. This level indicates stellar price The decline is likely to continue before a new surge occurs.
However, if the RSI stabilizes or rises, XLM may regain upward momentum and resume the bullish trend.
Stellar Ichimoku cloud shows bearish trend emerging
Ichimoku Cloud Atlas star Showing that bearish momentum is dominant, the price has broken below the Kijun-Sen (orange line) and Tenkan-Sen (blue line).
This suggests that bullish sentiment is waning and price is approaching the edge of the cloud (Senkou Span A and B), which currently provides short-term support. If the price falls further into or below the clouds, it could confirm a bearish trend reversal.
Currently, the cloud itself remains structurally bullish with Senkou Span A rising, but its thinning nature suggests support will weaken going forward.
if XLM cannot recycle levels Selling pressure is likely to intensify above Tenkan-Sen and Kijun-Sen. However, if the price recovers and moves above the clouds, it could signal a resumption of the near-term bullish trend.
XLM Price Forecast: Strong correction ahead if buying pressure does not resume
star The EMA line remains bullish, with the short-term line above the long-term line, indicating an overall upward trend. However, a narrowing of the gap between these lines signals diminishing bullish momentum and a possible shift in sentiment.
This suggests that the ongoing downward trend may accelerate if XLM Buy The pressure won’t come back anytime soon.
If the downtrend strengthens, XL price A sharp decline to the strong support level of $0.099 is likely, which would represent a sharp correction of 76%.
On the other hand, if stellar price A resumption of recent bullish momentum could lead to a retest of resistance near $0.638. A break above this level could push XLM towards $0.70, with a potential upside of 62% from current levels.
Disclaimer
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