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Stellar Price Analysis - Critical Support at $0.05 for XLM
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[Image: stellar-price-analysis-bearish.jpg:resiz...g?1580x888]
Stellar Price Analysis - Critical Support at $0.05 for XLM

Stellar price: $0.051
Key XLM resistance levels: $0.057, $0.062, $0.072, $0.080
Key XLM support levels: $0.048, $0.046, $0.044, $0.042

*Price at the time of writing

Stellar Long Term Price Prediction: Bearish

Stellar Lumens XLM, -1.57% continues to show a sign of weakness after recording the yearly high at $0.15 in June this year. Following the November rejection at $0.08, the XLM market has been on a steady fall to where it's currently changing hands at $0.0507. 

Amongst the top 20 cryptocurrencies, Stellar recently lost its 10th position to Tezos XTZ, 3.45% by the market cap after witnessing a huge liquidation from the sellers. XLM is now the 11th strongest cryptocurrency with an appropriate volume of $178.7 million. This scenario is likely to cause more selling in the future trading as next support may hold at $0.048, $0.046, $0.044 and $0.042 in a subsequent move. 

Stellar is currently trading around psychological support of $0.05. A bounce is likely if the buyers can counter the bearish setup. Meanwhile, there's a resistance at $0.057, followed by $0.062 and $0.072, above the white descending line. 

Reclaiming the November high of $0.08 would confirm a bullish reversal in the market. 

For the past six months now, the XLM trading has been supported the RSI 30 level. A break at this level would create a serious panic sell in the market. Although, the MACD is revealed on a sideways but price is contracting in the negative zone which shows that the big shock-wave lurks around the corner.

[Image: stellar-xlm-daily-price-chart---december-15.png]

Stellar Medium Term Price Prediction: Bearish

On the 4-hours chart, Stellar is still keeping a downward trend for some weeks now. XLM is at the same time respecting a diagonal resistance line (white) that is forming since November 23. The bearish bias remains dominant but it may soon end. For now, the closest level of support is $0.049 and 0.048.

As we can see, XLM is currently lying in the MACD negative zone, although the market is ow moving near the zero levels. 

A crossover could send a fast recovery into the market as $0.053 could be tested within minutes. A further climb would allow XLM to reach $0.056 and $0.06 resistant level. Following the latest price actions, XLM now rely on the RSI oversold level. However, a break or bounce is likely to occur.

[Image: stellar-xlm-4h-price-chart---december-15.png]

Stellar Short Term Price Prediction: Bearish

Even on the hourly time frame, the XLM price remains under bearish control. The token has marked a 24-hours low of $0.050, though the current bearish sentiment may extend to $0.049 and $0.048 support. However, we can expect a significant price growth if the $0.050 can provide support for the XLM market.

Looking at the technical indicators, Stellar has reached a red zone on both RSI and MACD. A strong bullish regroup could allow the gains to $0.052 resistance, near the white regression line. A breach above this line would allow a bullish takeover to $0.054 and $0.055 resistance.

[Image: stellar-xlm-hourly-price-chart---december-15.png]


As much as the XLM price keeps dropping, the long bearish actions will continue to play out. But if the market can find support on the current $0.050 levels, we can expect relief from the bulls’ side with significant gains.

by Michael Fasogbon

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