Stellar (XLM/USD) Price: Support Level of $0.22 Holds, Bullish Reversal Envisaged

Updated:

STELLAR Price Analysis – December 22

When the bulls increase their pressure, price may break up $0.30 level and increase towards the resistance level of $0.35 and $0.41. An increase in the sellers’ pressure may breakdown the support level of $0.24 which may decrease the price to the support level at $0.22 and $0.11.

XLM/USD Market

Key Levels:

Resistance levels: $0.30, $0.35, $0.41

Support levels: $0.24, $0.22, $0.11

XLM/USD Long-term Trend: Bearish

Stellar is bearish on the daily chart. The bearish momentum that started after the formation of double top chart pattern has decreased the price to the support level of $0.22. The mentioned level holds and the price consolidates for few days. Today, it seems the bearish pressure is becoming weak and the bulls are dominating the market. Price is increasing to test the dynamic resistance levels.

XLMUSD Daily chart, December 22

The price is trading above the 9 periods EMA but below 21 periods EMA as a sign of bullish movement. When the bulls increase their pressure, price may break up $0.30 level and increase towards the resistance level of $0.35 and $0.41. An increase in the sellers’ pressure may breakdown the support level of $0.24 which may decrease the price to the support level at $0.22 and $0.11. The relative strength index period 14 is above 40 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 coin was on the consolidation movement last week. The movement was closed to the support level of $0.22. Today, the bulls are gaining upper hand over the bears and the price is increasing towards the resistance level of $0.30.

XLMUSD 4-hour chart, December 22 

Stellar has crossed the two EMAs upside and it is trading above the 9 periods EMA and 21 periods EMA at distance indicating an increase in the buyers’ pressure. 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.