XLM/USD (Stellar) Price: Sellers Are Trying to Break Down $0.22 Support Level
Login

XLM/USD (Stellar) Price: Sellers Are Trying to Break Down $0.22 Support Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


STELLAR Price Analysis – July 14

When the bears increase their momentum, it may break down the support level of $0.22, which may leads to further price decrease to the $0.16, later it may extend to $0.11 level. In case the bears’ pressure unable to break down the support level of $0.22, ranging movement may continue in the stellar market or the price may increase towards the $0.30, $0.42 and $0.50 resistance levels.

Key Levels:

Resistance levels: $0.30, $0.42, $0.50

Support levels: $0.22, $0.16, $0.11

XLM/USD Long-term Trend: Bearish

On the daily chart, Stellar is on the ranging movement. The bears’ momentum has pushed the price to the support level of $0.22. The sellers’ pressure was weak and the mentioned level could not be easily penetrated downside. The bulls were trying to increase their momentum, so as to break up the resistance level at $30 but the confluence at $0.30 prevents the bulls’ pressure. The price is currently consolidating within $0.30 and $0.22 levels. However, the bears are trying to break down the $0.22 level.

XLMUSD daily chart, July 14

Stellar is trading below the 9 periods EMA and 21 periods EMA with the two EMAs bending towards south. It indicate an increase in the bears’ momentum. When the bears increase their momentum, it may break down the support level of $0.22, which may leads to further price decrease to the $0.16, later it may extend to $0.11 level. In case the bears’ pressure unable to break down the support level of $0.22, ranging movement may continue in the stellar market or the price may increase towards the $0.30, $0.42 and $0.50 resistance levels. However, the relative strength index period 14 is bending down at 20 levels to indicate sell signal.

XLM/USD Medium-term Trend: Ranging

On the 4-hour chart, XLM is on the ranging movement. The bulls’ momentum is weak and could not push up the price above $0.30. The bears’ momentum was opposed at the support level of $0.22. The price continue to consolidate within the $0.30 and $0.22 price levels.

XLMUSD 4 hour chart, July 14

The price is hovering around the 9 periods EMA and the 21 periods EMA as a sign of ranging movement. However, the Relative Strength Index period 14 is at 50 levels pointing up to indicate buy signal.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News