XLM Price Analysis: Will XLM End Consolidation On Bearish Note?

While most of the altcoins are rising higher with the Bitcoin recovery rally this Uptober, Stellar is far from the limelight. The XLM price struggles to end the consolidation trap as it moves along the 200-day EMA.

Despite the recent correction and consolidation, with a 34% YTD growth, 2023 remains bullish for XLM and also for the Stellar price prediction in the coming year. 

Trading at a 42% discount from the 52-week high of $0.1959, XLM price exchanges hand at $0.1123 with an intraday fall of 2.04%. The intraday pullback erases off the last night’s gain of 2.79% and prolongs the sideways movement. 

The consolidation range displays a constant struggle between the buyers and sellers to regain trend control. Additionally, the declining trend momentum drives the 50-day EMA lower, increasing the death cross possibility. 

Considering the buyers remain dominant at the $0.1092 psychological mark, the XLM price will manage an upside continuation. 

Technical pointers:

DMI indicator: The falling ADX line with the consolidating XLM price reflects the obvious loss in trend momentum. Moreover, the DI lines merge, reflecting an indecisive state. 

EMA: The increasing chances of a death cross, a bearish crossover of 50 and 200-day EMA, warns of a death cross. 

What’s Next For Stellar (XLM) Price?

Due the long consolidation range, the XLM price trend becomes extremely indecisive and warns of a sharp move on either side. However, the chances of breakdown below $0.1092 are lower due to overall market recovery. 

Therefore, a bullish reversal above the 50-day EMA will reach the $0.13 mark, accounting for a 15% jump. 

On the flip side, a downfall will plunge the market value to $1069.