Stellar (XLM/USD) Price: Will There Be a Bullish Breakout at $0.16 Resistance Level?

Updated:

STELLAR Price Analysis – June 08

In case the sellers push the price to penetrate the support level of $0.11 downside, price may decline towards the support levels of $0.11, $0.09, and $0.08. Should the daily candle close above the $0.16 resistance level by the bulls’ pressure, then, Stellar price may incline to $0.20 levels and may extend to $0.23.

XLM/USD Market

Key Levels:

Resistance levels: $0.16, $0.20, $0.23

Support levels: $0.11, $0.09, $0.08

XLM/USD Long-term Trend: Ranging

Stellar is on the ranging movement on the daily chart.  The crypto was not able to make a tangible movement last week. It seems the bulls’ momentum is weak and the Bears’ pressure is low. This is what brought about low volatility in the market. The resistance level of $0.16 holds and the support level of $0.11 oppose the sellers. The price is consolidating within $0.16 and the support level of $0.11.

Stellar is trading between the 9 periods EMA and 21 periods EMA. The former is above the later. In case the sellers push the price to penetrate the support level of $0.11 downside, price may decline towards the support levels of $0.11, $0.09, and $0.08. Should the daily candle close above the $0.16 resistance level by the bulls’ pressure, then, Stellar price may incline to $0.20 levels and may extend to $0.23.

XLM/USD Medium-term Trend: Ranging

Stellar is on the ranging movement in the 4-hour chart. The pin bar candle formed at the support level of $0.09 on 12 May indicate an increase in the bullish momentum. Price action obeyed the candle pattern and the price increases accordingly to the resistance level of $0.16. The level holds the price and ranging movement commenced.

Stellar is trading around the 9 periods EMA and 21 periods EMA as a sign of ranging market. The Relative Strength Index periods 14 is at 44 levels and the signal line displaying no specific direction.

You can purchase Lucky Block here: Buy LBlock

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • 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.

  • 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
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
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.