Yesterday, the trading session for Stellar ended with a little bit of hope as it bounced back from a major fall due to the whole market introducing a new bearish trend.
Now every Stellar XLM price analysis to be found is indicating yet another bearish trend for alts in the near future as BTC gears up for a massive surge past $14,000 but that is yet to happen. In the short term, Stellar remains in the bearish zone due to low trading volumes and the 7 day MA.
Stellar XLM price analysis: Resistance and Support
Stellar is currently trading at $0.068 at the moment of writing this article but is yet again poised to fall alongside other alts within the day. Although it managed to enjoy a slight uptick from the disaster that was morning 15th of August, there’s still little hope to be had.
The resistance is currently hovering at $0.07 which will most likely be retested today but fail and fall to the following support levels.
The supports can be seen at $0.065 and a further $0.061 which will most likely hold if the coin experiences a further downfall in the next few hours.
But the overall prediction is bearish before Bitcoin can get back on its feet.