Stellar (XLM/USD) Price: Bullish Trend May Continue Provided $0.30 Level Holds

Azeez Mustapha
18 August 2021 | Updated: 18 August 2021

STELLAR Price Analysis – August 18

Bullish Price movement may continue provided the support level of $0.30 holds and it will increase towards the $0.42, $0.50, and $0.57 levels. Further increase in the bears’ pressure may break down the $0.30 level and this may decrease the price to $0.22 and $0.16.

XLM/USD Market

Key Levels:

Resistance levels: $0.42, $0.50, $0.57

Support levels: $0.30, $0.22, $0.16

XLM/USD Long-term Trend: Bullish

Stellar is on the bullish movement, on the daily chart. The coin found support at $0.22 price level and this made crypto to bounce towards the north. The former resistance level of $0.30 was penetrated and increases to test the resistance level of $0.42 on August 16. The just mentioned level holds the price and it retraces to test the $0.30 price level.

XLMUSD Daily chart, August 16

Stellar is trying to break down the confluence at $0.30 level. Stellar is trading between the 9 periods EMA and 21 periods EMA as a symbol of bearish movement. Bullish Price movement may continue provided the support level of $0.30 holds and it will increase towards the $0.42, $0.50, and $0.57 levels. Further increase in the bears’ pressure may break down the $0.30 level and this may decrease the price to $0.22 and $0.16.

XLM/USD Medium-term Trend: Bearish

Stellar is bearish on the 4-hour chart. The crypto is increasing gradually after testing the support level at $0.22. It tested the resistance level at $0.42 after penetrating former resistance level $0.30. The bullish pressure decreases after testing the resistance level of $0.42. Stellar may decrease further to retest $0.30. Below the current price are $0.30, $0.22 and $0.16 support levels.

XLMUSD 4 hour chart, August 18

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

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Azeez Mustapha

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.