Stellar Price Is Testing $0.19 Support Level, a Potential Reversal Zone
Login

Stellar Price Is Testing $0.19 Support Level, a Potential Reversal Zone

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

Azeez Mustapha

Updated:


STELLAR Price Analysis – July 21

The price will reach $0.14 and $0.10 provided the support level of $0.19 does not hold. In case the $0.19 holds, the price may increase to the resistance level at $0.30 and $0.35 if the $0.24 level permits.

XLM/USD Market

Key Levels:

Resistance levels: $0.24, $0.30, $0.35

Support levels: $0.19, $0.14, $0.10

XLM/USD Long-term Trend: Bearish

Stellar started a bearish movement on 16 May after several days of bullish movement; this is clearly noticed when the long daily bearish candle emerges that breaks down the support level of $0.35. More bearish candles continue to emerge and the price declines towards the $0.24 price level. The cryptocurrency decreases with the formation of strong daily bearish candles, targeted and tested the $0.19 support level. The mentioned support level prevented further decrease and the price is ranging around $0.19 level.

XLMUSD Daily chart, July 21

The daily chart has shown that sellers are dominating the market. The price has cross over the 9 periods EMA and 21 periods EMA downside and the former EMA is below the later EMA confirming a bearish trend. The price will reach $0.14 and $0.10 provided the support level of $0.19 does not hold. In case the $0.19 holds, the price may increase to the resistance level at $0.30 and $0.35 if the $0.24 level permits. Meanwhile, the relative strength index period 14 is at 20 levels displaying a bullish signal

XLM/USD Medium-term Trend: Bearish

Stellar’s performance is becoming low in the medium-term outlook, this may be due to a persistence pressure from the sellers of Stellar. In other words, the price actions are in downward trend after it breaks out at the $0.24 price level. The market is moving lower and this may continue unless there is a strong opposition from the bulls or the support level at $0.19 holds.

XLMUSD 4 hours, July 21

 

The negative spike may be rejected at the important support of $0.19. Further push by the bears may bring the coin to the low support level of $0.14. The RSI (14) moves into the 50 levels and the signal line pointing up to indicate the 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