Stellar (XLM/USD) Price May Penetrate $0.42 Level Upside

3 November 2021 | Updated: 3 November 2021

STELLAR Price Analysis – November 03

Stellar price may break up the resistance level at $0.42 provided the bulls increase their momentum, It may increase further above $0.48 and resistance level of $0.55 may be reached.

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 was under the bullish control since three weeks ago after it found support at $0.2446 on September 28. Last week, the price tested the resistance level of $0.42 and pulled back because it was unable to penetrate the level. The support level of $0.30 was retested. On October 28, the bulls resumed to the market and bullish movement is restored. At the moment, the price has crossed the $0.35 level heading towards the resistance level of $0.42.

XLMUSD Daily chart, November 03

The bulls are increasing their pressure and the price has broken up the dynamic resistance levels upside. The price is trading above the 9 periods EMA and 21 periods EMA. Stellar price may break up the resistance level at $0.42 provided the bulls increase their momentum, It may increase further above $0.48 and resistance level of $0.55 may be reached. 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. The price consolidates for few days after it tested the resistance level of $0.42. It pulled back to retested the support level of $0.35 and had a partial breakout. The bulls interrupted the bears’ movement and the price increased towards the resistance level of $0.42 level at the moment. In case the resistance level of $0.42 level holds, the price may pull back and face the support level of $0.35, $0.30 and $0.24.

XLMUSD 4-hour chart, November 03

Stellar is trading above the 9 periods EMA and 21 periods EMA and the Relative Strength Index periods 14 is above 60 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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

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.