- XLM loses 1.61% in the last 24 hours, and its value confined to 0.059779 USD
- The current bearish pressure may push it to the support of 0.0575 USD soon
Stellar Lumens has also followed the bearish trend of the market and started its price correction process. Over the last 24 hours, it has been down by 1.61%, and the value has now fallen to 0.059779 USD. XLM is likely to face bottlenecks ahead on its intraday path.
XLM Price Faces Downward Pressure After Rally
Stellar cryptocurrency was trading at 0.060760 USD, and in the first 6 hours and 23 minutes, a hike of 3.66% pumped the value to the highest point of the day at 0.062985 USD. Since then, it is trading with downward momentum. The first bullish push was followed by a bearish strike that cost XLM coin 0.0028 USD and pulled the price down by 4.52% and placed it at 0.060153 USD. The next few hours reflected moderate volatility.
At 20:54 UTC, it was at 0.061691 USD when it started falling again. Over the next 3 hours and 36 minutes, XLM’s price narrowed by 3.35% and touched the lowest point of the day at 0.059623 USD.
The market cap has been reduced by a significant margin in the last 24 hours. On January 29, it was 1.238 billion USD, and today it has been confined to 1.210 billion USD.
The current price of Stellar cryptocurrency at 0.059779 USD is lagging behind its 50 days MA and 20 days MA. This hints at the upcoming moderate downside movement it has to face. As per XLM prediction, it may soon seek the support of 0.057576 USD. Intraday investors need to play safe as it may show a higher degree of price fluctuations over the next few days.
Resistance and Support Levels
R1: $0.0632, R2: $0.0646 and R3: $0.0667
S1: $0.0596, S2: $0.0575 and S3: $0.0561
