Stellar coin is still managing its position in the buy phase despite the ongoing downward correction. The XLM coin is likely to halt the downtrend soon as it seems to have found a strong support level recently.
Stellar was as low as $0.045 when the year started after tracing many higher highs, the coin attained its peak at $0.064 and mildly corrected back to $0.060. The coin reclaimed the $0.064 price mark before started the on-going downtrend. The bearish trendline has recently been breached as the coin saw a support level near $0.055.
Yesterday morning price actions of XLM coin were quite bearish. The coin went as low as $0.054 before surging by 6.06%. A minor bearish trendline had again taken place before it tested the support levels today. Currently, the Stellar price is at $0.055 at UTC 12:19:30.
Technicals:
RSI for the coin is just above 30, which indicates that it may enter the oversold zone. MACD is giving a bearish signal as with its MACD line on the downside, and it is below the zero-line.
