In the midst of the uncertainty of the market, Ripple Rival Stellar (XLM) has reached a critical level of achievement, leaving investors and uncertain merchants. The last days have been unfavorable for the XLM token, with a price drop of 38%. However, recent gains in the past two days seem to change the feeling of the market.
Stellar technical analysis (XLM) and price prediction
During the continuous price drop, XLM seems to have faced constant resistance from a descending trend line. However, the price is now about a break.
According to an expert technical analysis, this level will be crucial for XLM to determine if it will rally or plunge into the coming days. Based on the action of recent prices and historical dynamics, if XLM violates this resistance of descending trends and closes a daily candle or four hours above $ 0.35, there is a strong possibility that It can rise by 22% to reach $ 0.43 in the future.
On the other hand, if the asset fails to cross this level, there is a strong possibility that it can dive by 10% to reach the level of $ 0.30. Despite this prediction, XLM is currently negotiating above the exponential mobile average (EMA) over the daily time, which strengthens its upward trend.
Current price momen
At the time of the press, XLM is negotiated nearly $ 0.346 and increased by more than 3.50% in the last 24 hours. However, due to its confused price action model, the participation of traders and investors decreased during the same period, resulting in a 4% drop in the volume of trade.
$ 4 million in XLM flow
By looking at the current price action, investors have poured XLM tokens, as reported by the chain analysis company Rinsing. The Flow / OUT Spot Data Sweep reveal that the exchanges have experienced an XLM tokens with a value of $ 4 million in the last 48 hours.
However, XLM’s open interest seems to increase and has jumped by 9% in the last 24 hours, indicating an increasing interest in trafficking for the assets and the formation of new positions in the last 24 hours.
