Stellar

The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/xlm-price-analysis-retest-phase-warns-bearish-turn-in-stellar-price-trend/">XLM Price Analysis: Retest Phase Warns Bearish Turn In Stellar Price Trend!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a double top at the $0.16 mark, the <a href="https://coinpedia.org/information/stellar-price-prediction/" rel="noopener noreferrer nofollow">XLM price</a> trend ends and starts the correction phase. Leading to a 15% drop in late July and early August, the Stellar coin price dropped below the crucial level of $0.014. 
Following the breakdown, the XLM prices retest broken range with a 4.85% recovery, teasing a potential post-retest reversal.&nbsp; 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh3.googleusercontent.com/IU6r-X-2Urh2vRiWM-6BSFJ9_QvfczjcJpR_JnwpiDBhXSmpuDAPyPrBvjbCmLsOaxZ1PhGQI9WDSLCf5sIPWTKvRrcI44G0Pf4Yi4UUbyE_TjrI7Hqw4RFeV6Rd_HjauxF5bQs7Pv1lF36ZzMIV4G8" alt=""> 
</figure> 
With an intraday fall of 1.70%, the Stellar coin price starts the post-retest downtrend. Currently, the XLM coin price action completes an evening star pattern with a spike in volume, reflecting a rise in bearish sentiment. 
With the downtrend ready to test the bullish confidence at the confluence of the 50-day EMA and the 23.60 Fibonacci level, the downtrend gains momentum.&nbsp; 
The technical indicators also maintain a slightly bearish standpoint with the declining MACD and RSI trends. The 50 and 200-day EMA sustain a positive trend, but the rising selling pressure flatlines both.&nbsp; 
With the growth in the selling spree, the XLM price will soon challenge the 50-day EMA at $0.129. In case of a bearish outcome, the downtrend will extend to the 50% Fibonacci level at $0.119, accounting for a drop of almost 15%. 
On the flip side, a positive recovery with lower price rejection can keep the Stellar coin price floating above $0.14. It can help the XLM price trend bounce back to $0.16 for a new bullish breakout attempt.&nbsp;

XLM Price Analysis: Retest Phase Warns Bearish Turn In Stellar Price Trend!

CoinPedia News

Other articles published on Aug 10, 2023

Mysterious Address nd4.eth Burns 2,500 ETH, 3 Bored Ape NFT by Sending to Black Hole Address

Can Bitcoin Surpass $30,500 This Week? DigiToads and Litecoin Fuel Fresh Rally Hopes

US CPI Inflation at 3.2% – Potential Rally for Bitcoin and Ethereum?

Illuminati Capital Eyes Web3 Games and NFT Infrastructure with New $50M Fund

NIO Stock Slipped Over 4% Intraday; Might Surge Post Q2 Earnings

Here Are 3 Crypto Presales That Have Racked Up Millions: WSM, XRP20, and YPRED

Join our free newsletter for daily crypto updates!