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Most of the coins are back to the red zone today, according to CoinMarketCap.
XLM/USD
The rate of Stellar (XLM) has fallen by almost 2% over the last day.
On the hourly chart, the price of XLM is in the middle of the local channel, between the support of $0.2331 and the resistance of $0.2362.
As none of the sides has seized the initiative so far, there are low chances of seeing sharp moves by tomorrow.
On the longer time frame, one should pay attention to the daily's candle closure in terms of yesterday's bar low. If it happens below $0.2337, the decline is likely to continue to the $0.250-$0.23 zone by the end of the week.
Form the midterm point of view, the picture is rather more bearish than bullish as the price is close to the support. If bulls cannot seize the initiative shortly, one can expect a level breakout, followed by a test of the $0.20 mark.
XLM is trading at $0.2343 at press time.
Vladislav Sopov
U.Today Editorial Team