Stellar Lumens [XLM/USD] Technical Analysis: Bulls out of sight as bears roam wild
Stellar has had a very rough time since the slip-up last month and the Starlight payments system does not seem to have helped the token so far as the prices are still below the lowest point of slip-ups.
A downtrend has persisted since May spanning over price range of $0.2364 to $0.2283, with short-term supports at $0.2240 and $0.2184, and successive resistances set up at $0.2283 and $0.2344.
Parabolic SAR is seen below the price candles, indicating a bullish presence in the market.
The spikes produced by the Awesome Oscillator were red, indicating a bearish move in the market.
The Stochastic indicator line has crossed over the signal line, indicating a bullish crossover.
The one-hour chart shows a downtrend line ranging from $0.4582 to $0.2522. The support is set up $0.1768, while resistance points are set up at $0.2601 and $0.3336.
Bollinger Bands are equally spaced from the central moving average, indicating a steady volatility in the market. The price candles are just below the moving average, indicating a bearish trend.
The MACD line has crossed below the signal line, indicating a bearish trend.
The RSI is drawing closing to the centre, indicating that the buying and selling pressures are even.
In the one-hour chart, SAR and Stochastic indicate a bullish move, while the Awesome Oscillator indicates a bearish move again. The Bollinger bands indicate a bearish inclination and so does the MACD, but the RSI is neutral on the market.
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