XLM is suffering major price corrections due to the overall downtrend in the cryptomarket.

Currently, it is facing an overall loss of -6.78%.

As reflected in the pricing graph, XLM is having a significant bearish movement in today’s market. The altcoin broke down the crucial level of $0.040. The downtrend is so significant that it has brought the cryptoasset to the major support level of $0.035.

XLM, somehow, had the support at the price level of $0.035 and went up to the price level of $0.044. However, the overall market forces pushed XLM down to the major support level of $0.038. The market cap is $799,413,749 and volume traded is $388,116,808.

The ongoing current downtrend in the market is again bringing the majority of the coins to their lowest possible level for the year. The XLM/BTC pair is also having negative movement of -1.16% with the level of 0.000000638 BTC.

Stellar Lumens Technical Analysis

The stellar coin price chart reflects on the downtrend of the altcoin which has become more significant

this month due to overall market conditions. The graph also suggests that XLM has tried to maintain its sustainability at different support levels but failed due to the overall bearish movement in the market.

The technical indicators and oscillators suggest that the crypto market will see the color of red in upcoming days for XLM.

The MACD levels are again brought back to the bearish zone after reaching the bullish region through lots of efforts.

The 24hour- RSI is again showing downtrending nature which is not a positive sign for the altcoin. A break below the level of 40 will provide more bearish momentum.

The 24hour-CCI touched the oversold region. After reaching the normal region after a positive divergence from the negative zone there was some positive movement for the cryptoasset. However, CCI has reached the normal region but still showing downtrending nature.

Resistance level: $0.040 and $0.045

Support level: $0.035 and $0.030

The post Stellar Lumens (XLM) Price Analysis: Bears Enforced XLM Price To Break Level Of $0.040 appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.