Stellar Lumens [XLM] sheds off nearly 41% of market cap in a month: Technical Analysis
All major altcoins and Bitcoin are currently trading in the red. The cryptocurrency market has been hit badly with an increase in the number of sellers. Today, the market began with a loss for major coins except for Binance coin [BNB] which was trading in the green. The overall market cap at the time of writing was $57.44 billion, a $2.03 billion fall in market cap over the day. Stellar Lumens [XLM] has also experienced adversity due to the overall market downfall. XLM has fallen nearly 14% over the week and almost 41% over a period of one month.
At the time of writing, the 100 EMA line proves that the coin is exhibiting a downtrend. The MACD indicates that the virtual asset is back into the bullish momentum after the bears took over the coin for quite a long time. The RSI indicator is currently at 42.46 which points out that the cryptocurrency is suffering an increased number of sales in the crypto market. The digital currency is trading below the key support level which was found at $0.1503. The trading range of XLM was $0.1434-$0.1484, at the time of writing. The value of the coin had toppled 5.47% against the U.S. dollar and was trading at $0.1446. The virtual asset’s market cap was $2.77 billion, at pen time. The coin had lost $113.82 million over the day.
The digital asset had lost almost 1.7% against BTC with one XLM equalling 0.00003738 BTC.
Stellar Lumens [XLM] Latest Updates
A Dubai-based Bitcoin and cryptocurrency exchange, BitOasis that currently serves parts of North Africa and the Middle East recently announced that they have added Stellar Lumens [XLM] to their trading platform.
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