Stellar Price Prediction as XLM Retraces 5.4% With Market Drop — Is It Time to Load Up?
XLM has fallen by 3% in the past 24 hours, with the Stellar price dropping to $0.1051 on a day when the wider crypto market has suffered a 7% decline.
The coin is now down by 12% in a week and by 23% in the last 30 days, although it holds onto a 12% gain in a year.
Such percentages are disappointing in relation to the returns recorded by other major tokens recently, yet they invite the possibility that XLM may compensate with above-average gains in the near future.
XLM’s chart reflects its weakness at the moment, although its indicators are now at a point where a recovery is in order.
For example, Stellar’s relative strength index (purple) fell below 20 yesterday day and has dipped strongly again this morning, raising the probability of a rebound.
Likewise, the coin’s 30-day average (orange) has now fallen so far below its 200-day (blue) that it’s only a matter of time before it begins rising again.
In this context it will be interesting to see whether XLM’s support level (green) will prevent a drop below $0.1040.
If it doesn’t, we could see further losses in the near term, even if the coin remains in a strongly oversold position.
EXTREME FEAR FOR THE $XLM TOKEN. IM SO SCARED RIGHT NOW
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