Amid the scarily plunging market, Bitcoin is still trading downwards and is exploring the price range well below $8000. Notably, due to Coronavirus, all the markets are drastically down, and it is to be seen how long it takes to see improvements on a global level.
Last week has been mostly bullish for Stellar Lumens, and it is yesterday when the XLM coin dropped with such strong bearish impact. The coin was at $0.057 when it opened, and from there, it started a gradual price drop.
A sharp price dip near $0.05 also played a vital part in its current bearish nature. Stellar price has declined as low as $0.048 today and is yet to see a strong price recovery. However, the coin has recently tried to strike a price move above the 200-day EMA, but the recently formed bearish candles have refused the same. Notably, the XLM coin is still below the 38.20% fib level.
Talking about its technical indicators, MACD and RSI are heading downwards. Also, RSI is at 51, showing no extremities right now. Meanwhile, MACD has just traced a bearish crossover.
