Stellar (XLM/USD) Price: Bears Oppose Bulls at $0.41 Level

STELLAR Price Analysis – August 25

The bulls may push the price down to the $0.30 level and may penetrate it, if this happen, price declination to $0.22 and $0.16 support levels is possible. Failure to break down $0.30 level may lead to ranging movement, resistance levels above current price can be found at $0.42, $0.50 and $0.57.

XLM/USD Market

Key Levels:

Resistance levels: $0.41, $0.50, $0.57

Support levels: $0.30, $0.22, $0.16

XLM/USD Long-term Trend: Bearish

Stellar is on the bearish movement on the daily chart. The crypto was under the control of the bulls for more than two weeks. The bullish momentum pushes the price to the resistance level at $0.41. The bulls’ pressure failed and the price retraced towards the $0.30 level. On August 24 a strong bearish candle appeared and engulfs the previous daily candle. Stellar decreases and penetrate the dynamic support levels.

Stellar is trying to break down the dynamic support levels. Stellar is trading between the 9 periods EMA and 21 periods EMA as a symbol of bearish movement. The bulls may push the price down to the $0.30 level and may penetrate it, if this happen, price declination to $0.22 and $0.16 support levels is possible. Failure to break down $0.30 level may lead to ranging movement, resistance levels above current price can be found at $0.42, $0.50 and $0.57.

XLM/USD Medium-term Trend: Bearish

Stellar is bearish on the 4-hour chart. Stellar hits the resistance level of $0.42 on August 10. The bulls’ momentum could not break up the mentioned level. It pulled back towards the broken level and made the second attempt of breakout at $0.42. The price action on the 4-hour chart has formed a short “M” chart pattern. There is tendency for the price to fall.

Stellar is trading below 9 periods EMA and 21 periods EMA. The Relative Strength Index periods 14 is at 40 levels and the signal line pointing down to indicate a sell signal.

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