Stellar (XLM/USD) Price Awaiting a Bullish Breakout at $0.42 Level

10 November 2021 | Updated: 10 November 2021

STELLAR Price Analysis – November 11

The breakup of $0.42 resistance level by the bulls may increase the price to the resistance level at $0.48 which may extend to $0.55 resistance level.

XLM/USD Market

Key Levels:

Resistance levels: $0.42, $0.48, $0.55

Support levels: $0.35, $0.30, $0.24

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. Stellar crossed the former resistance level of $0.35 on October 13 and the price ranged within the $0.42 and $0.35 for many days due to low bullish and bearish momentum. On November 09, the bulls gained more pressure and the price was increased towards the $0.42 level. This morning, sellers opens the market and the price may pull back before the continuation of bullish movement.

XLMUSD daily chart, November 10

The bulls’ pressure is increasing and the price is increasing accordingly towards north. The price is trading above the 9 periods EMA and 21 periods EMA. The breakup of $0.42 resistance level by the bulls may increase the price to the resistance level at $0.48 which may extend to $0.55 resistance level. Nevertheless the relative strength index period 14 is at 60 level bending down to indicate sell signal which may be a pullback.

XLM/USD Medium-term Trend: Bullish

Stellar is on the bullish movement in the 4-hour chart. The interruption of the bears by the bulls on October 28 put the price on bullish movement. Prior the bulls’ interruption, the price was consolidating for few days after it tested the resistance level of $0.42. It pulled back to retest the support level of $0.35 and experience a fake breakout. The price is increasing towards the resistance level of $0.42 level at the moment. In case the resistance level of $0.42 level holds, the price may pull back and face the support level of $0.35, $0.30 and $0.24.

XLMUSD 4-hour chart, November 10

However, Stellar is trading above the 9 periods EMA and 21 periods EMA and the Relative Strength Index periods 14 is at 70 levels with the signal line pointing down indicating a sell signal.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

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
9.8
  • 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
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
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.