Recently, the IMF chief, Christine Lagarde, spoke about Central Bank issued cryptocurrencies in the Singapore Fintech Festival, which could be a huge deal for Stellar, as it could help implement Stellar and IBM’s World Wire for cross-border payments.
At the time of press, Stellar Lumens had overtaken EOS and was holding its fifth rank. XLM was trading at $0.2430 and the market cap was holding steady at $4.63 billion.
The one-hour chart shows an uptrend that ranges from $0.2173 to $0.2351, while the downtrend ranges from $0.2856 to $0.2433. The support is set up at $0.2173, and the price has broken resistance at $0.2413. Subsequent resistance points are at $0.2597 and $0.2747.
The Aroon indicator shows a downtrend gaining strength as it hit the 100 line, while the Aroon up-line has hit the bottom.
The MACD line has crossed the zero line undergoing a bearish crossover. The lines have come eerily close to each other and have undergone a bullish crossover.
The RSI indicator is reaching the 60 line, which indicates a bullish presence.
The uptrend for Stellar Lumens ranges from $0.2237 to $0.2388 and the downtrend ranges from $0.4350 to $0.2418. There are two supports at $0.2227 and $0.1768. The resistances are set up $0.2813, $0.3336 and $0.3693.
The MACD indicator is showing a bearish crossover as the MACD line has crossed the signal line and is heading to the bottom.
The Stochastic indicator is currently at the bottom band, indicating a sell-off in the market.
The CMF line has come down near the zero line, which indicates that the money flow in the market has slowly reduced. Since the CMF line is still above the zero line, it shows that the money inflow is greater than the money outflow, which in turn points at a bullish market.
The one-hour chart, as indicated by the indicators, shows mixed signals. The MACD, Stochastic and CMF have indicated a bearish aura hanging over the one-day chart for Stellar Lumens.
The post Stellar Lumens [XLM/USD] Technical Analysis: Bears snatch the market after a momentary bull ride appeared first on AMBCrypto.