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Stellar Price Analysis: XLM/USD bears look to negate Thursday's gains

  • XLM/USD bears took charge after four straight bullish days.
  • The price has dropped below the $0.09–level.
  • The RSI is looking to drop below the overbought zone.
Stellar Price Analysis: XLM/USD bears look to negate Thursday's gains
Rajarshi MitraRajarshi MitraIndependent Analyst

XLM/USD daily chart

XLM/USD daliy chart

XLM dropped from $0.0906 to $0.0868 so far this Friday as the bears took control following four consecutive bullish sessions. The price has dropped below the $0.09-level and is looking to fall back inside the 20-day Bollinger Band. The MACD shows that overall market sentiment its still bullish, while the RSI is looking to drop below the overbought zone.

Support and Resistance 

Strong resistance lies at $0.0906, which thwarted the positive price action of the previous few days. On the downside, healthy support lies at $0.079 and $0.076.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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