XLM continues to fluctuate in four-week-old horizontal range. Additional losses are likely with a daily close below $0.36. Near-term technical outlook remains neutral with bearish bias. Stellar started the week in a calm manner but came under modest pressure ahead of the weekend and touched its lowest level in a month at $0.3412. Nevertheless, XLM staged a technical correction and seems to have settled below $0.40. Stellar remains indecisive Despite the drop witnessed earlier in the week, Stellar continues to fluctuate in a four-week-old range and is having a difficult time making a decisive move in either direction. However, the price stays within a touching distance of the lower limit of this channel at $0.3600, which is reinforced by the Fibonacci 61.8% retracement of the Jan. 28 – Feb. 13 rally. The 100-day SMA aligns as critical support at $0.3400 and a daily close below that level could trigger a technical selloff as it would be the first time since November and drag the price toward $0.3000 (psychological level). On the other hand, several strong hurdles are located a little above the price, suggesting that a bullish shift in the technical outlook could be hard to come by. Initial resistance is seen at $0.4000 (20-day SMA, Fibonacci 50% retracement), ahead of $0.4250 (50-day SMA) and $0.4400 (Fibonacci 38.2% retracement). Stellar one-day chart Following this week’s price action, Stellar preserves its neutral outlook with a modest bearish bias. A daily close below $0.3600 could attract more sellers, while a break above $0.4400 is required for XLM to continue to push higher. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Ripple Price Prediction: XRP eyes $0.6500 as key support continues to hold FX Street 2 years XLM continues to fluctuate in four-week-old horizontal range. Additional losses are likely with a daily close below $0.36. Near-term technical outlook remains neutral with bearish bias. Stellar started the week in a calm manner but came under modest pressure ahead of the weekend and touched its lowest level in a month at $0.3412. Nevertheless, XLM staged a technical correction and seems to have settled below $0.40. Stellar remains indecisive Despite the drop witnessed earlier in the week, Stellar continues to fluctuate in a four-week-old range and is having a difficult time making a decisive move in either direction. However, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.