• After retesting the support zone at $0.1200, the XLM price is seeking a rebound.
• Bullish trends are trying to gain momentum in the market.

The Stellar coin recently dropped to the 100-day EMA level and tested the support area at $0.1200. It showed a breakout at $0.1600 but experienced a 20% decline due to profit booking post a market downturn. Bears have covered their short positions, and buyers now wait for a rebound.

As of the current moment, Stellar coin (XLM) trades at $0.1276 with a drop of 1.95%, indicating neutral sentiments. It has a negative monthly return of -12.56% and a 20% annual decrease. The XLM/BTC pair trades at 0.00000193 BTC with a market cap of $2.57 Billion. Analysts predict a volatile path for XLM, potentially reaching $0.1500.

XLM Price To Volume Profile Highlights Profit Booking Trends

According to price to volume data, XLM exhibited retracement in recent sessions, showing seller dominance and a probable decline towards the 200-day EMA support area. The current trend is neutral with the potential to retest the support at $0.1180.

Price Volatility and Sentiment Analysis

Recent data reveals a lower price volatility below the 0.013 midline, alongside a positive weighted sentiment around 0.475.

Social Dominance & X Followers Trends

While social dominance surged by 15% to 0.289%, X followers data plummeted by over 450% to -185 points.

Development Activity & Open Interest Synopsis

Development activity decreased by 45%, reaching 164, while open interest dwindled by 1.89% to $38.49 Million over 24 hours.

Considering Fib levels, XLM's price revisited the 38.2% zone, slipping below the mid Bollinger Band support level. RSI remains below midline, indicating downward movement on the charts.

With a total supply of 50 billion XLM coins, the volume-to-market cap ratio stands at 0.0465, ranking 47 globally in the crypto market.

Summary

Stellar coin's price retested the 100-day EMA zone with retracement patterns. It might continue to decline towards the 200-day EMA support near $0.1100 soon.

Technical Levels

Support Levels: $0.1150 and $0.1000

Resistance Levels: $0.1320 and $0.1500

Disclaimer

The information presented is for informational purposes only and should not be considered as financial or investment advice. Any opinions expressed are solely those of the author and do not reflect financial recommendations.