Stellar (XLM/USD) Price: Buyers Oppose Sellers at $0.22 Level
Login

Stellar (XLM/USD) Price: Buyers Oppose Sellers at $0.22 Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


STELLAR Price Analysis – December 08

In case the bulls gain more pressure to push the price above the resistance level of $0.30, then, price may increase towards the resistance levels at $0.35, and $0.41.An increase in the sellers’ pressure may breakdown the support level of $0.24 which may decrease the price to the support level at $0.22 and $0.11.

XLM/USD Market

Key Levels:

Resistance levels: $0.30, $0.35, $0.41

Support levels: $0.24, $0.22, $0.11

XLM/USD Long-term Trend: Bearish

Stellar is bearish on the daily chart. There was an increase in the sellers’ pressure, Stellar price broke down the support level of $0.30. It tested the support level of $0.22 price level. The bulls defended the support level of $0.30 and that is why a long tailed daily bearish candle was produced on December 04. The price remains within the resistance level of $0.30 and the support level of $0.22.

XLMUSD Daily chart, December 08

The price is trading below the 9 periods EMA and 21 periods EMA as a sign of bearish movement. In case the bulls gain more pressure to push the price above the resistance level of $0.30, then, price may increase towards the resistance levels at $0.35, and $0.41.An increase in the sellers’ pressure may breakdown the support level of $0.24 which may decrease the price to the support level at $0.22 and $0.11. The relative strength index period 14 is at 40 level bending up to indicate buy signal.

XLM/USD Medium-term Trend: Bullish

Stellar is on the bullish movement in the 4-hour chart. The coin found support at $0.22 level on December 04. The just mentioned level holds and price could not break it down. Bulls gained more momentum and push up the price towards the resistance level of $0.30. The bullish pressure is increasing and resistance level of $0.30 may be penetrated upside.

XLMUSD 4-hour chart, December 08

However, Stellar is trading above the 9 periods EMA and 21 periods EMA at close contact indicating an increase in the buyers’ pressure. The Relative Strength Index periods 14 is at 50 levels with the signal line pointing up indicating a buy signal.

You can purchase crypto coins here.  Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News