XLM Technical Analysis: Selling Spree Ready To Break $0.10

XLM prices showcase a remarkable increase in selling pressure which may shortly break under the crucial support at the $0.10 mark. Key technical points: The market price has decreased 2.06% over the past 24 hours. The price action shows a selling spree ready to take down $0.10. The 24-hour trading volume of Stellar is $206 Million, indicating a drop of 36%. Past Performance of XLM XLM prices maintain a falling trend as it fails to surpass the 50-day EMA and the $0.148 resistance level. The rejection coincides with the sell-off in global markets resulting in a 30% downfall, breaking under the $0.11 support level to take a dip at $0.10. However, the selling pressure cools off resulting in a sideways trend between $0.10 and $0.11 as a retest of the bearish breakout. Source- Tradingview XLM Technical Analysis The currently forming XLM daily candle shows a rise in selling sentiment as the price drop 5% and undermines the last day’s recovery. Hence, traders can expect the fallout of $0.10 as an entry point for shorting opportunities. The daily-RSI slope shows a failed bullish attempt to reverse from the oversold boundary but retraces to the 30% mark. And the falling trend in 14-day SMA grows as it reverses from the halfway line. The MACD indicator displays a falling trend in the fast and slow lines after the bearish crossover resulting in an increase in the bearish spread. Hence, the indicator displays a bearish bias forecasting the...