Stellar (XLM) Rebounds Above $0.45 Support, Poises for Upward Move Soon

Stellar (XLM) Rebounds Above $0.45 Support, Poises for Upward Move Soon

Key Resistance Levels: $0.65, $0.70, $0.85
Key Support Levels: $0.30, $0.25,$0.20

XLM/USD Long-term Trend: Bullish
Stellar is in an uptrend as it reached a high of $0.60. The crypto was resisted at the recent high as price retraced and found support above $0.45. The upward move will resume if the current support holds. However, the downtrend will resume if the $0.45 support cracks.

XLM/USD – Daily Chart

Daily Chart Indicators Reading:
XLM is at level 65 of the Relative Strength Index period 14. The coin is in the uptrend zone and above the centerline 50. There is a likelihood of price upward move. The crypto’s price is above the SMAs which suggests an upward movement of the coin.

XLM/USD Medium-term bias: Bullish
On the 4 hour chart, the crypto is in an upward move after retesting the $0.45 support. The Fibonacci tool has indicated an upward move of Stellar. On February 13 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that XLM is likely to rise to level 2.0 Fibonacci extension. That is a high of level $0.8373.

XLM/USD -4 Hour Chart

4-hour Chart Indicators Reading
Stellar is in a bullish momentum as it trades above the 40% range of the daily stochastic. The bullish momentum is fluctuating. The SMAs are sloping upward indicating the uptrend.

General Outlook for Stellar
Stellar is in an upward move. The crypto was earlier in a bear market. The cryptocurrency will resume an uptrend if the bulls break the resistance at $0.60. According to the Fibonacci tool, the market will rise to level 0.8373.

You can purchase crypto coins here: Buy Coins

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • 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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.