Among the cryptocurrencies that crypto investors have been familiar with for years is XLM Coin. The bear market has also shaken it. The popular altcoin, which experienced a significant recovery until the recent major BTC drop, is giving important signals in the short term. We will discuss the XLM Coin predictions regardless of the overall market. We will also touch upon the highest price that XLM Coin has reached.
The cumulative volume in the cryptocurrency markets has reached unprecedented levels. Only $14.7 billion worth of volume was generated in the entire market in 24 hours. This explains that the dull price charts are due to a lack of demand. Stellar (XLM) Coin has been in our lives for years, but it reached its all-time high price a long time ago. While many altcoins hit their all-time high (ATH) during the 2021 bull season, the same cannot be said for XLM.
On November 18, 2014, 9 years ago, the altcoin hit its all-time low (ATL) at $0.001227, just like XRP Coin did in 2018. The price of XLM Coin reached its historical high of $0.93 at the beginning of that year. The date is January 4, 2018.
Powell’s hawkish stance adopted at the Jackson Hole meeting disrupted the optimism in the risk markets. This situation, of course, negatively affected altcoins as well. The marked areas in the chart below are weekly resistance and support order blocks. The $0.113 and $0.130 areas on the chart are weekly resistance order blocks and are in line with the highest level of the range in the second quarter of 2022.
On the other hand, the white area between $0.095 and $0.109 is a weekly upward order block that has been retested twice as support in July and August. At the time of writing, XLM was rejected at the point where the 50-EMA (Exponential Moving Average) and the previous highest range ($0.13) converged. Additionally, since the price has been making lower highs since July, the daily timeframe is in a downtrend.
Therefore, sellers could push XLM prices down to the $0.099 level in the next few days.