Stellar Price Prediction for Today, 08 December: Will XLM Decrease Further?

Updated: 08 December 2022

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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Sellers are increasing their momentum

STELLAR Price Analysis – 08 December

In case bears increase their momentum price may close below the support level of $0.083 and the low of $0.079 and $0.068 may be tested. Should the buyers gain more momentum, Stellar may be rejected at $0.083 level, increase to the resistance level at $0.087, $0.09 and may extend to $0.10 resistance level.

XLM/USD Market

Key Levels:

Resistance levels: $0.087, $0.09, $0.10

Support levels: $0.083, $0.079, $0.068

XLM/USD Long-term Trend: Bearish

Stellar is bearish in the long-term outlook. The Crypto declines from the resistance level of $0.11. The price reduces to $0.083 support level on 09 November after it broke down the former support level of $0.098 and $0.087. The price bounced up and retested the resistance level of $0.098. Sellers would not let buyers have their way, the bullish momentum was rejected and the bearish movement continues. It is trying to break down the $0.083 at the moment.

The price has crossed the 9-periods EMA and 21-periods EMA downside and the former EMA is below the later confirming the bearish trend. In case bears increase their momentum price may close below the support level of $0.083 and the low of $0.079 and $0.068 may be tested. Should the buyers gain more momentum, the price may be rejected at $0.083 level, increase to the resistance level at $0.087, $0.09 and may extend to $0.10 resistance level.

XLM/USD Medium-term Trend: Bearish

Stellar is bearish in the 4- hour chart. The support level of $0.083 has been tested three times. Buyers tried to push up the price but sellers refused to let Stellar go. The price decreased further to test the support level of $0.083. It is trying to break down the just mentioned level.

XLM is trading below the 9-periods EMA and 21-periods EMA with a bearish candle. . The Relative Strength Index period 14 is at 34 levels with the signal line pointing down to indicate the sell signal. Stellar is going down while IMPT is going up.

Those who invest in Impact Token (IMPT) will be able to claim them as from December 12, 2022. In order to do this, they will connect the wallets they used to buy the tokens initially, and the token will be dropped into their wallets. Also Uniswap, LBank and Changelly Pro will list IMPT for trading, once the presale has been concluded. This environmentally friendly project is gaining traction and close to $15 million has been raised in the current IMPT presale.

Also, Dash 2 Trade aims to guide all trades to speculate more proficiently. This is because effective risk control parameters are necessary in building robust strategies for initiating winning trades. There is a D2T presale ongoing and time is running out. The presale dashboard launch is coming soon since the product dev is ahead of the schedule. So far, the presale has raised almost $9.5 million.

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