• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Breaking: CoWSwap Loses $150,000 In Exploit
Stellar

Stellar (XLM) Could Grow Dim This Week, But Buyers Don’t Need To Back Down

Christian Encila by Christian Encila
3 months ago
in Cryptocurrency news
Reading Time: 3 mins read
Advertisement

Stellar (XLM), the 27th ranked cryptocurrency in terms of market capitalization, managed to pump its spot trading price by 2.1% over the last 24 hours.

At press time, according to tracking from Coingecko, the asset is changing hands at $0.112 and has been down by 3.3% and 4.4% on is biweekly and monthly charts, respectively.

Here’s a quick look at XLM’s performance:

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
  • Stellar has once again fallen into a bearish price pattern
  • XLM needs to sustain and surpass its current trading price of $0.112 to break from its downward trend
  • Stellar forecasted to drop to $0.085 over the next 30 days

The altcoin suffered when it failed to move past the $0.13 resistance marker and fell into a pattern that indicates further downward trend.

XLM’s technical indicators and analysis hint at a continued exposure to negative factors that will prevent it from climbing to higher levels over the next few days.

Related Reading: Why These Major Crypto Wallets Acquired Over 100 Million XRP In Last 24 Hours

Repetitive Rejection On Crucial Levels Cripples Stellar

Since the middle part of June, the altcoin was trading at a narrow range of $0.10 and $0.13. XLM tried to test and surpass the aforementioned resistance level but was unsuccessful.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Source: TradingView

Not only that, it also failed to sustain the crucial support marker of $0.125. As a result, in just two days, the asset declined by 12%. That, however, was erased by its recent price pump.

Stellar’s Relative Strength Index (RSI) is below the 50-neutral zone but it hasn’t reached the point of being overbrought or oversold.

While buyers might seem to be discouraged by these bearish signals, there is a possibility that the downtrend thesis will be invalidated.

This will happen if XLM manages to surpass the $0.112 range. Failure to do so, however, might result to a steep fall all the way down to $0.101.

XLM Price Forecast

According to Coincodex, Stellar has 17 technical indicators that are sending bearish signals while 15 were leaning towards bullish signs.

With this, the crypto is forecasted to slightly increase its trading price to $0.113 over the next five days. The next 30 days, however, will be painful for holders as the altcoin is seen to plummet all the way down to $0.085.

There is also significant level of fear towards the asset as it scored 33 on the Fear and Greed Index. XLM is also facing a high yearly inflation rate of 5.44%.

It has been trading below the 200-day simple moving average and has not shown any signs of performing better anytime soon.

Still, just like with any other cryptocurrency, it is not immune to the volatility of the crypto space so its price can also go high as fast as it goes down, and vice versa.

Related Reading: Why These Major Crypto Wallets Acquired Over 100 Million XRP In Last 24 Hours

XLM total market cap at $2.8 billion on the daily chart | Featured image from National Review, Chart: TradingView.com

Disclaimer: The analysis is based on the author's personal knowledge and should not be construed as investment advice.
Tags: altcoinbitcoinbtcbtcusdcryptoETHethereumethusdstellarXLM
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Visionary Crypto Entrepreneur is working on the World’s First Auto-Rebasing Layer 1 Blockchain

Visionary Crypto Entrepreneur is working on the World’s First Auto-Rebasing Layer 1 Blockchain

8 mins ago
Baby Doge

Baby Doge Coin Grows 124% In Last 7 Days – Is This The Next Big Thing In Crypto?

4 hours ago
Bitcoin

Half Of All Bitcoin Unmoved In 2 Years: What Does This Mean For The BTC Price?

16 hours ago
SingularityNET

SingularityNET (AGIX) Shows No Signs Of Stopping, As AI Crypto Blows Up 923%

19 hours ago
This Bitcoin On-Chain Metric Is At A Historical Resistance, Will BTC Decline?

This Bitcoin On-Chain Metric Is At A Historical Resistance, Will BTC Decline?

20 hours ago
Ripple XRP

XRP Price Still Looks Bearish, But This Ripple Visa Rumor Might Change It

22 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Metaspins

Metaspins

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
Coinplay

Coinplay

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

SEC Calls for Bitcoin (BTC) and Ethereum (ETH) Regulation As Snowfall Protocol (SNW) Presale Ends on a High Note

February 8, 2023

Chainlink (LINK) and Orbeon Protocol (ORBN) Outperform the Market, Experts Predict Big Growth in 2023

February 8, 2023

ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF CRYPTO” TV SHOW, KILLER WHALES

February 7, 2023

SinVerse Studios Announces $1 Million Buyback Program for the SIN token

February 7, 2023

Join the Revolution: Invest in STARSTAKING for 25% APY and the Chance to Win Big with the DeFi Lottery Program

February 7, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.