Stellar Lumens Price Prediction: XLM on the verge of massive 50% freefall to $0.08


  • Stellar’s uptrend recently hit a barrier at $0.18, while the downside is immediately protected at $0.17.
  • A sell signal by the TD Sequential indicator on the daily chart hints at a massive correction to $0.08.

Stellar is holding in consolidation, just like other cryptocurrencies in the market. The weekend session was lethargic in price action, apart from the rebound from $0.16 to $0.18.

XLM is stuck between the key resistance at $0.18 and the immediate support at $0.17. A massive freefall to $0.1 is likely to come into the picture if Stellar closes the day under the initial support.

Stellar’s potential breakdown reinforced by a sell signal

XLM/USD is trading at $0.173 at the time of writing. The 100 Simple Moving Average emphasizes the support at $0.17 on the 4-hour chart. Massive losses will befall the cross-border token if the price dives under this critical moving average by the end of the day. The next tentative support areas include the 200 SMA and $0.1.

XLM/USD price chart

XLM/USD 4-hour chart

The TD Sequential indicator has flashed a sell signal on the weekly chart, encouraging sellers to increase their positions. The call to sell manifested in a green nine candlestick and, if validated, may result in significant losses. According to the weekly chart, the most potential support area is $0.12, but declines could stretch to the 50 SMA and 100 SMA.

XLM/USD price chart

XLM/USD weekly chart

On the upside, it is worth mentioning that the bearish outlook will be abandoned if Stellar recovers past $0.18 and perhaps closes the day above the 50 SMA. Buyers on the sidelines would be encouraged to join the market in anticipation of gains above $0.2. If enough volume is created, the tailwind behind Stellar will swell for a price action eyeing $0.23 (November high).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Ethereum Classic price lags behind Bitcoin and XRP despite upcoming rally

Ethereum Classic price action for the Thursday trade session has been the definition of a whipsaw. The daily candlestick open has dropped as much as 9.5% and spiked higher by as much as 10.5% - big swings in all directions.

More Ethereum Classic news

VeChain price nears a 120% bullish breakout

VeChain price has made significant gains during the Thursday trade session, capitalizing on Ethereum’s bullish move to new all-time highs. VeChain itself has traded higher than 10% on the day, outperforming the majority of its peers. VeChain is likely to convert to bull-market conditions ahead of most altcoins.

More VeChain news

Polkadot price sees bullish breakout, but risks fading

Polkadot (DOT) has made another attempt to break out of the bullish triangle. This is the fourth time already in just one month that price has tried to break to the upside, making it primed to likely succeed at the next attempt.

More Polkadot News

Litecoin bears want to take over, but LTC price still eyes $400

Litecoin price attempts to outperform Bitcoin and Ethereum. A rally of over 100% is likely if Litecoin can crack above some key resistance levels ahead. Litecoin is on target to make its own, new all-time highs if conditions are favorable.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP