The cryptocurrency market is experiencing a downturn, with Bitcoin's price dropping below $65,000. Despite the recent record high in the US stock market, investors are worried about potential losses due to Germany's billion-dollar sale and ongoing BTC transfers to exchanges. The summer months are also known to bring weakness to the market. Amidst this uncertainty, what's next for Stellar (XLM) Coin?

XLM Coin's price has been struggling, with a significant drop in trading volume in the derivatives market. The on-chain data shows a 52% decline in trading volume over the past 24 hours, reaching its lowest level since May 1st. If the volume continues to decline, professional investors may lose interest, leading to further price drops.

The Relative Strength Index (RSI) is at 36.31, indicating that XLM Coin has reached an oversold level. A value above 70 indicates overbuying, while a value below 30 indicates overselling. If the RSI continues to fall, it may trigger further sales, leading to a deeper decline in price.

The XLM Coin price has been defending the $0.1 support level since June 7th but lost it on June 8th, forming a horizontal channel. The long-term support has turned into resistance, and the $0.09 support level is now the last hope to prevent further losses. If the bulls fail to hold this support, the price may drop to $0.08. Reclaiming the $0.1 level could reverse the negative trend.

In conclusion, the current market conditions and Bitcoin's price drop suggest a bearish trend. If BTC fails to reclaim $66,000, the bears may continue to dominate. As of now, BTC is trading at $64,800. The future of XLM Coin hangs in the balance, and only time will tell if it will rebound or fall further.