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Stellar (XLM/USD) Price May Break Up Resistance Level of $0.42

Azeez Mustapha
Updated 1 min read
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STELLAR Price Analysis – October 20

Stellar price may reach the $0.42 resistance level and may break it up to test the resistance level of $0.48 and $0.55 level. In case the resistance level of $0.42 holds, price may face the support levels at $0.35, $0.30 and $0.24.

XLM/USD Market

Key Levels:

Resistance levels: $0.42, $0.48, $0.55

Support levels: $0.35, $0.30, $0.24

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. Stellar follow the last week predicted direction. It was reported that it is warming up for a bullish ride as it was consolidating around the resistance level of $0.35. The just mentioned level has been broken up by the bulls last week. The coin is rallying towards the resistance level of $0.42 at the moment.

XLMUSD Daily chart, October 20

The dynamic resistance levels have been penetrated upside by Stellar. The price is trading above the 9 periods EMA and 21 periods EMA. Stellar price may reach the $0.42 resistance level and may break it up to test the resistance level of $0.48 and $0.55 level. In case the resistance level of $0.42 holds, price may face the support levels at $0.35, $0.30 and $0.24.   The relative strength index period 14 is at 60 level bending up to indicate buy signal.

 

XLM/USD Medium-term Trend: Bullish

Stellar is on the bullish movement in the 4-hour chart. Bulls increased their pressure last week and break up the former resistance level of $0.35, the price increase and test the resistance level of $0.42. It pulled back to retest the support level of $0.35 level. Further price increase envisaged in the XLM market.

XLMUSD 4 hour chart, October 10

Stellar is trading below 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.

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