Stellar

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/stellar-price-analysis-after-a-slow-bounce-back-is-xlm-price-bound-for-a-negative-trajectory/">Stellar Price Analysis: After A Slow Bounce Back, Is XLM Price Bound For A Negative Trajectory?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Maintaining a downward rally, the XLM coin price continues a crash after facing an intense overhead resistance at $0.16. Leading to a resistance trendline formation, the sellers are making a clear line of control to keep the bullish growth in check. 
With multiple lower high formations, the downtrend forces selling pressure on the crucial 100 and 200-day EMA.&nbsp;&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh6.googleusercontent.com/c_f9zPEw8QEdgKB3NMPYf7hb-TLBFlxtKV4a_dTAHeNIceFyMGRAAeRv6kyz5v1te7M9L8vtLXoCxTHw_9u5K5It9yxj8YmBtS-iglAkcqt_FZ_ncZqG1W2TUwuzv28-9zlK6NO-lj1eydPWDe_Lad8" alt="">
</figure> 
Currently, the 50 and 100-day EMAs trap the XLM price trend in a sideways trend between the 50% and 38.2% Fibonacci level. The $0.119-$0.129 consolidation range signifies a brawl between the resistance trendline sellers and buyers at $0.119.&nbsp; 
With an intraday fall of 2.15% at press time, XLM price tests the dominance at $0.119 and forms a second bearish candle. Reflecting a surge in supply, the downtrend possibility surges, too.&nbsp; 
<h2 id="whats-next-for-stellar-xlm-price" data-name="whats-next-for-stellar-xlm-price" class="wp-block-heading">What’s Next For Stellar (XLM) Price?</h2> 
The present sideways trend maintains a no-trade zone, as the breakout of 50% or 38.20% Fibonacci level will signal the next entry. Moreover, the XLM price action projects a double top possibility within the range, teasing a high chance for a downtrend continuation with a bullish trap.&nbsp; 
A downfall below the 100-day EMA can put the 200-day EMA buyers at work to absorb another selling spark. This will put an additional load on the $0.10 psychological mark.&nbsp;&nbsp; 
On the flip side, optimistically, if the uptrend breaks above the 50-day EMA, the XLM prices can prolong the bullish trend. Therefore, the uptrend can rechallenge for a dominance $0.142.

Stellar Price Analysis: After A Slow Bounce Back, Is XLM Price Bound For A Negative Trajectory?

Table of Contents

CoinPedia News

Other articles published on Aug 25, 2023

Enhance Your Gaming Experience with Downloadable Content at GMR Center!

Notum AMA Session Recap

Pepe (PEPE) Long-Term Holders Sold Ahead of 20% Price Crash: Details

DarwinSwap: Pioneering Decentralized Exchange with a Twist

Proposed Crypto Tax Reporting Rules by Treasury and IRS

Worldcoin’s WLD Token Dips 44% in Value One Month After Introduction

Join our free newsletter for daily crypto updates!