Stellar lumens [XLM/USD] Technical analysis: Bears maintain their position as tired bulls try to grab hold of them

Stellar lumens [XLM] had some tough weeks competing with Bitcoin Cash [BCH] in the bear market to steal the title of becoming the fourth largest cryptocurrency in the world.

Lumens in the 24-hour change had better results and were up 8.18% at the time of writing. Current market capitalization remains stable at $ 2.91 billion. The volume of 24-hour trade is estimated at $ 96.40 million.

1 hour

Stellar lumens [XLM/USD] Technical badysis: the bears maintain their position, while the bulls try to seize it

The upward trend seems to have originated within the one hour timeframe for Lumens and ranges from $ 0.1430 to $ 0.1529. The downward trend, however, is significant and ranges from $ 0.2531 to $ 0.1574. Support for XLM at $ 0.1383 prevents prices from falling. The resistance points for XLM are set to $ 0.2087, $ 0.2212 and $ 0.2413.

the Chaikin flow indicates that sellers dominate the market with a very fine quantity / number.

the Relative Strength Index shows a bullish divergence in the game as the RVGI forms higher highs.

One day

Stellar lumens [XLM/USD] Technical badysis: the bears maintain their position while the bulls try to seize it

The upward trend has completely disappeared from the scene when prices have fallen, while the downward trend of Stellar Lumens in the longer one hour span ranges from 0.4582 USD to 0.1629 USD. Prices exceeded support at $ 0.1768 and plunged below. The resistance points of $ 0.2807 to $ 0.3931 remain stable.

the SAR parabolic Markers over a period of a day show a downward trend as they have grown above candles.

the MACD The indicator clearly indicates a bearish cross, as well as the histogram with red bars hanging below the zero line.

the Awesome Oscillator has undergone a bearish cross that indicates that short-term dynamics are decreasing more rapidly than long-run dynamics.

Conclusion

The stellar lumens in the one hour chart indicate a broadly optimistic buying opportunity, as indicated by the Aroon, CMF and RVGI indicators. The one-hour chart, as indicated by SAR, MACD and AO, shows a bearish momentum for the XLM.

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Akash is your usual Mechie with an unusual interest for cryptos and day trading, ergo, full time journalist at AMBCrypto. Holds XRP because of peer pressure, but has also found a day trading with the little capital he has.