Stellar (XLM/USD) Price Is warming Up for a Bullish Ride Above $0.35 Level

13 October 2021 | Updated: 13 October 2021

STELLAR Price Analysis – October 13

Stellar price may break up the $0.35 resistance level provided the bulls increase their momentum, it may increase to $0.48 provided the bulls are able to push the price above the resistance level of $0.42.

XLM/USD Market

Key Levels:

Resistance levels: $0.35, $0.42, $0.48

Support levels: $0.30, $0.24, $0.19

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. The crypto is warming up for a bullish ride as it is consolidating around the resistance level of $0.35 since last week. The just mentioned level resist the bullish breakout last week. Likewise, the support level of $0.30 holds and the bears could not penetrate it. A bullish breakout at the resistance level of $0.35 envisaged.

XLMUSD Daily chart, October 13

Stellar has penetrated the dynamic resistance levels upside. Stellar is trading above the 9 periods EMA and 21 periods EMA. Stellar price may break up the $0.35 resistance level provided the bulls increase their momentum, it may increase to $0.48 provided the bulls are able to push the price above the resistance level of $0.42. In case the sellers defend the resistance level of $0.35, price may continue to consolidate or commence its bearish movement towards the support levels of $0.30, $0.24, and $0.19.

XLM/USD Medium-term Trend: Bullish

Stellar is on the bullish movement in the 4-hour chart. Bulls maintain their position in the stellar market on the 4-hour chart. Although, there was no significant movement in the stellar market last week. It seems the buyers’ momentum is equal to the sellers’ momentum and the price engage in the consolidation around the resistance level of $0.35.

XLMUSD 4-hour chart, October 13

Stellar is trading around the 9 periods EMA and 21 periods EMA and the Relative Strength Index periods 14 is at 50 levels with the signal line pointing up to indicate a buy signal which may lead to a breakout.

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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.