Stellar (XLM) Is Ranged-Bound above Critical Support of $0.050


Key Resistance levels: $0.09, $0.10, $0.11
Key Support Levels: $0.06, $0.05,$0.04

XLM/USD Long-term Trend: Ranging
On November 22, XLM fell to a low of $0.053 and commenced a sideways move. The downtrend was as a result of an unsuccessful attempt to break the $0.080 overhead resistance by the bulls. Today, XLM is still fluctuating above the support at $0.050. From the price action, if price holds above the current support, the bulls will seek to revisit the resistance at $0.080. Conversely, if the bears break below the current support, XLM will find support at $0.040. Presently, Stellar is fluctuating above the current support as bulls and bears tussle for price possession.

XLMUSD-Daily Chart

Daily Chart Indicators Reading:
Stellar is currently below the centerline 50 of the daily RSI period 14 level38. This signals that the coin may fall. From the Fibonacci tool, the coin has exhausted its bearish pressure as it is presumed to trade and reverse at the 1.272 extension level.

XLM/USD Medium-term bias: Ranging
On the 4-hour chart, XLM is fluctuating in a tight range between the levels of $0.055 and $0.060. The range-bound move is characterized by small body candlesticks like the Spinning tops and the Doji . These candlesticks  are responsible for the indecision between buyers and sellers.

XLMUSD-4 Hour Chart


4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are sloping horizontally indicating that price is ranging. The stochastic indicator is below the 50% range which indicates that price is in a bearish momentum.

General Outlook for Stellar
Stellar is in a range bound movement between the levels of $0.055 and $0.060. From the Fibonacci tool, Stellar is presumed to have reversed at the 1.272 extension level. This is equivalent to the price of $0.056. From the price action, the market has fallen to that low but the coin is in a range-bound movement. Meanwhile, that support had been holding since September.

Stellar Trade Signal
Instrument: XLM/USD
Order: Buy
Entry price: $0.057
Stop: $0.040
Target: $0.080

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.