The post Stellar (XLM) Price Down 10% With Indicators Turning Bearish appeared on BitcoinEthereumNews.com.

Stellar (XLM) price has declined by 10% over the past seven days as it struggles to maintain its $10 billion market cap, currently sitting at $10.87 billion. Momentum indicators such as the RSI show a sharp decline, signaling increased selling pressure and a potential move closer to oversold conditions. The Ichimoku Cloud chart further reinforces a bearish outlook, with XLM trading below the cloud and showing no immediate signs of reversal. Traders are closely watching the $0.351 support level, as a failure to hold could lead to further declines, while a successful rebound may pave the way for a recovery toward $0.40 and beyond. Stellar RSI Is Neutral, But Going Down Stellar Relative Strength Index (RSI) is currently at 39.9, a sharp drop from over 60 just two days ago on December 24. This significant decline indicates a rapid loss of buying momentum, with the market shifting toward bearish sentiment. The move from a previously strong neutral range into a lower RSI territory suggests increased selling pressure, bringing XLM closer to oversold conditions, though it has not yet fully entered that zone. XLM RSI. Source: TradingView RSI, a momentum oscillator, measures the speed and magnitude of price changes on a scale from 0 to 100. Values above 70 indicate overbought conditions that often precede a price correction, while values below 30 suggest oversold conditions, potentially signaling a rebound. With XLM RSI at 39.9 and declining fast, the coin is teetering on the edge of bearish momentum, signaling the possibility of further downside in the short term. If the selling pressure continues, XLM’s price may test lower levels, but if buyers re-enter and stabilize the market, a potential rebound could prevent further losses. XLM Ichimoku Cloud Shows a Strong Bearish Setup The Ichimoku Cloud chart for XLM indicates a bearish outlook,…

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Filed under: News - @ December 26, 2024 7:17 pm