Stellar (XLM/USD) Price May Retest Previous Low at $0.09 Level

Updated:

STELLAR Price Analysis – June 15

Should the sellers push the price to penetrate the support level of $0.09 downside, price may decrease towards the support levels of $0.08 and $0.09. In case the daily candle close above the $0.11 resistance level by the bulls’ pressure, Stellar price may incline to $0.16 levels and may extend to $0.20.

XLM/USD Market

Key Levels:

Resistance levels: $0.11, $0.16, $0.20

Support levels: $0.09, $0.08, $0.07

XLM/USD Long-term Trend: Bearish

On the daily chart, Stellar is on the bearish movement.  The bulls’ momentum was weak and the Bears’ pressure was low last week. The crypto was not able to break up the resistance level of $0.16. There was a low volatility in the market. On 12 June, bears gained more pressure and the support level of $0.16 was broken downside and the price exposes to $0.09 support level.

Stellar is trading below the 9 periods EMA and 21 periods EMA. The former has crossed the later downside. Should the sellers push the price to penetrate the support level of $0.09 downside, price may decrease towards the support levels of $0.08 and $0.09. In case the daily candle close above the $0.11 resistance level by the bulls’ pressure, Stellar price may incline to $0.16 levels and may extend to $0.20.

XLM/USD Medium-term Trend: Bearish

Stellar is on the bearish movement in the 4-hour chart. The crypto was range-bound within $0.16 and $0.11 levels last week. The pressure from the sellers push down the price to penetrate the support level of $0.11. The price is aiming at the previous low at $0.09 level. There is tendency for price to retest the just mentioned level before it continue bullish trend.

Stellar is trading below the 9 periods EMA and 21 periods EMA as a sign of bearish market. The Relative Strength Index periods 14 is at 32 levels and the signal line displaying bearish direction.

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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.