Stellar Price Falls, Will the Bulls Overcome Resistance Block?

[Coin_Gabbar]

Over the last 24 hours, the Stellar price has continued to fall. XLM lost more than 6% of its market value in the last 24hrs.
Stellar has recently recorded positive price sentiment as a result of an update that spread optimism among the XLM community.

In the latest update, Stellar users may now transfer USDC and Stellar Lumens via email.  Despite the update, technical indications on the one-day chart have sided with the bears.

Even though there are more buyers than sellers, purchasing power has dropped significantly.

In the last week, Stellar price increased by more than 7%. However, the bulls appear exhausted at press time. The current support zone for XLM stands between $0.111 and $0.106. If the Stellar price falls below $0.106, it will touch $0.99.
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Most cryptocurrencies will require additional market support to recover. If buyers do not gain momentum and XLM does not break over the 20-SMA, the altcoin's price will further drop.

Stellar Technical Analysis: 1D Chart