Stellar (XLM/USD) Price Awaiting a Bullish Trend Commencement

Updated:

STELLAR Price Analysis – May 25

In case the daily candle closes below the $0.11 level by the bears’ pressure, then, Stellar price may decline to $0.09 levels and may extend to $0.08. In case the buyers defend the support level of $0.11, price may increase towards the resistance levels of $0.16, $0.20, and $0.23.

XLM/USD Market

Key Levels:

Resistance levels: $0.16, $0.20, $0.23

Support levels: $0.11, $0.09, $0.08

XLM/USD Long-term Trend: Ranging

Stellar is on the ranging movement on the daily chart.  There was no significant movement in the Stellar market last week. When the buyers lost momentum last two weeks at the resistance level of $0.23. Sellers dominate the market with the formation of strong daily bearish candles which penetrate former support levels of $0.20 and $0.16. The price declines and reached the support levels of $0.11. It starts a ranging movement around the just mentioned support level till the moment of writing this report.

Stellar is trading below the 9 periods EMA and 21 periods EMA at close contact. In case the daily candle closes below the $0.11 level by the bears’ pressure, then, Stellar price may decline to $0.09 levels and may extend to $0.08. In case the buyers defend the support level of $0.11, price may increase towards the resistance levels of $0.16, $0.20, and $0.23.

XLM/USD Medium-term Trend: Ranging

Stellar is on the ranging movement in the 4-hour chart. The crypto continues on the ranging movement on the 4-hour chart. The bulls are yet to gather enough momentum that will drive the price towards North side. The same way, Sellers’ pressure is low and the support level of $0.11 holds the price.

Stellar is hovering around the 9 periods EMA and 21 periods EMA as a sign of ranging market. The Relative Strength Index periods 14 is at 47 levels and the signal line displaying bearish direction.

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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.