{"id":139632,"date":"2023-09-02T01:12:48","date_gmt":"2023-09-01T19:42:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=139632"},"modified":"2023-09-02T01:12:48","modified_gmt":"2023-09-01T19:42:48","slug":"xlm-faces-tough-times-clears-july-gains-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xlm-faces-tough-times-clears-july-gains-crypto-news\/","title":{"rendered":"XLM faces tough times, clears July gains &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">A weekly candlestick close below $0.131 could expose XLM to more losses.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">Wavering funding rates and negative Open Interest could favor sellers.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/XLM\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Stellar [XLM]<\/span><\/a><span style=\"font-weight: 400\"> could take a cue from its Q3 2022 price action if the bearish pressure persists. Its extended pullback threatened to crack a key support zone and clear the rest of July\u2019s gains.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/stellar-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">XLM Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">XLM has been consolidating July gains above $0.1250 since mid-July. However, the bearish pressure over the last few weeks has forced an extended retracement to the April (Q2) high of $0.115. If this previous Q2 price ceiling cracks, more losses could be likely.\u00a0<\/span><\/p>\n<h4>Bulls out to defend Q2 high as support<\/h4>\n<div id=\"attachment_336995\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLMUSDT_2023-08-19_13-15-36.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-336995\" class=\"size-full wp-image-336995\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLMUSDT_2023-08-19_13-15-36.png\" alt=\"Stellar price analysis \" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-336995\" class=\"wp-caption-text\">Source: XLM\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The $0.113 \u2013 $0.130 (cyan) support zone, bordering the Q2 highs, has been holding sellers from seeking more ground. Although it flashed green after a recent retest on the daily chart, indicating bulls\u2019 intent to safeguard it, the weakening <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> was pressing.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">A session close below $0.131 on the weekly chart could confirm sellers\u2019 extra leverage. Such a move will put XLM within the Q3 2022 price consolidation range of $0.099 \u2013 $0.131. If so, a price rejection at the previous range-high ($0.131) could lower the altcoin to the range-low ($0.099).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Conversely, a move and convincingly close above $0.131 could confirm bullish intent. But such a move could be a pipe dream given a weak BTC in $25k.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Besides, the RSI was in the negative zone despite showing reversal signs. The On Balance Volume (OBV) also declined slightly, reinforcing a dip in demand for the altcoin.\u00a0<\/span><\/p>\n<h4>Funding rates fluctuated<\/h4>\n<div id=\"attachment_336998\" style=\"width: 1788px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-336998\" class=\"size-full wp-image-336998\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1778\" height=\"1007\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate.png 1778w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate-300x170.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate-1024x580.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate-768x435.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate-1536x870.png 1536w\" data-lazy-sizes=\"(max-width: 1778px) 100vw, 1778px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-336998\" class=\"size-full wp-image-336998\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/XLM-funding-rate.png\" alt=\"\" width=\"1778\" height=\"1007\" \/><\/a><\/p>\n<p id=\"caption-attachment-336998\" class=\"wp-caption-text\">Source: Coinalyze<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">According to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/stellar-lumens\/liquidations\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Coinalyze<\/span><\/a><span style=\"font-weight: 400\">, there have been significant fluctuations in funding rates since mid-August, tipping the scale in favor of sellers. The cumulative green bars indicate positive funding rates and a bullish cue, while the red bars capture a bearish bias.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-xlm-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 XLMs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">If XLM takes a cue from Q3 2022 price action, shorting XLM at the previous range-high with take-profit at the range-low will be reasonable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, more shorts,&gt;$50k, were liquidated in the last 24 hours before the time of writing. It suggests a likely price pivot to the upside, but a weak BTC could complicate matters.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. A weekly candlestick close below $0.131 could expose XLM to more losses.\u00a0 Wavering funding rates and negative Open Interest could favor sellers.\u00a0 Stellar [XLM] could take a cue from its Q3 2022 price action [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":139633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-139632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=139632"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139632\/revisions"}],"predecessor-version":[{"id":147638,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139632\/revisions\/147638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/139633"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=139632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=139632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=139632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}