Stellar price has continued to travel south over the last 24 hours. On the last day, XLM lost more than 6% of its market value. Stellar has recorded positive price sentiment recently, owing to an update that spread optimism across the XLM community. In the latest update, Stellar users can now transfer USDC and Stellar Lumens via email. Despite the update, technical indicators have sided with the bears on the one-day chart. The buying power has fallen considerably, even though the number of buyers is greater compared to the number of sellers. In the last week, Stellar price went up close to 7%. However, at press time, the bulls look exhausted. The present support zone for XLM stands between $0.111 and $0.106, respectively. A fall from the $0.106 mark will lead the Stellar price to touch the $0.99 price mark. Broader market support will be necessary for most altcoins to recover. If buyers don’t pick up momentum and XLM doesn’t topple above the 20-SMA, then the altcoin is in for a further drop in price. Stellar Price Analysis: One Day Chart XLM was trading at $0.112 at the time of writing. The coin could not hold onto its weekly gains and fell on its chart as a result of declining buying strength. It is important for the bulls to defend Stellar at the $0.111 level, else Stellar price could drop down to $0.106. Once the coin touches the $0.106 mark, it could also fall near the $0.99 level. Overhead resistance for the c...
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