Stellar (XLM/USD) Price: Resistance Level of $0.20 Is Broken, Targeting $0.25

Updated:

STELLAR Price Analysis – March 30

When the bulls increase their pressure, price may break up $0.25 level and increase towards the resistance level of $0.30 and $0.35. In case bears defend the resistance level of $0.25, bears’ pressure may increase to breakdown the support level of $0.20 which may decrease the price to the support level at $0.18 and $0.11

XLM/USD Market

Key Levels:

Resistance levels: $0.25, $0.30, $0.35

Support levels: $0.20, $0.18, $0.11

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. The bulls prevailed over bears on the ranging movement that took place last two weeks within the resistance levels of $0.20 and $0.18. The price broke up the resistance level of $0.20. Meaning that, Stellar is obeying the command from triple bottom chart pattern formed. The bulls are gaining more pressure and price is increasing towards the resistance level of $0.25.

Daily 45

The price is trading above the 9 periods EMA and 21 periods EMA as a sign of bullish market. When the bulls increase their pressure, price may break up $0.25 level and increase towards the resistance level of $0.30 and $0.35. In case bears defend the resistance level of $0.25, bears’ pressure may increase to breakdown the support level of $0.20 which may decrease the price to the support level at $0.18 and $0.11. The relative strength index period 14 is at 70 level displaying a bullish market direction.

XLM/USD Medium-term Trend: Bullish

Stellar is on the bullish movement in the 4-hour chart. After the formation of triple bottom chart pattern at $0.16 support level the crypto started a consolidation movement. Last week, there was a bullish breakout at $0.20 level. Stellar is targeting $0.25 level at the moment.

4hours 44

.The price is trading above the 9 periods EMA and 21 periods EMA indicating a bullish market. However, the Relative Strength Index periods 14 is at 59 levels with the signal line pointing down indicating a sell signal which may be a pullback.

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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.