Stellar Price Plunge Strengthens During Intraday Movement

Stellar is currently under heavy market pressure. The coin is falling at a tremendous pace. The downtrend is anticipated to momentary. The intraday trading in Stellar might remain boring. The past couple of days have been quite prosperous for the investors. Yesterday, Stellar was spotted touching a high at $0.063. Today, Stellar is dealing with a market cap of $1,195,414,615. The 24hr volume of Stellar is at $352,040,139.

XLM Price Analysis

Stellar price was spotted at $0.0629 during 00:08 UTC on January 22. Within the next 7 hours, the currency price increased to $0.0635 by 1.02%. Later, it reflects a steep fall and the XLM price touched $0.0615 by 3.14%. Then, there was a slight improvement marked that took the Stellar price to $0.0622. However, the coin couldn’t hold itself at the same level and dropped to $0.0608. From 23:21 to 23:59 UTC, the price counters moved from $0.06085 to $0.06139 by a marginal hike. The intraday movement in the coin reflected a 2.88% regression in the price.

Today, Stellar Lumens started the day with a price fall. The price counters moved from $0.06113 to $0.05949 by 2.68%. The price locked itself around $0.059 mark for a while. Later, the XLM price slipped to $0.0593 from $0.0599 by a marginal drop. After this drop, the price jumped to $0.060 by 1.33% hike.

As per the MACD indicator, the MACD line has recently crossed the signal line, and this indicates the upcoming price recovery. Until the closing hour, the Stellar price could be spotted improving.

R1: 0.062513, R2: 0.065138, R3: 0.066496

S1: 0.05853, S2: 0.057172, S3: 0.054547

As per the current movement, the XLM price might escalate to the immediate resistance level at $0.0625. However, if the pullback pressure strengthens, then the coin might find immediate support at $0.0585.