XLM/USD (Stellar) Price: Bulls Are Gathering Momentum to Dominate Market

XLM/USD (Stellar) Price: Bulls Are Gathering Momentum to Dominate Market

STELLAR Price Analysis – June 30

Further increase of the bulls’ momentum may break up the resistance level of $0.30, which may leads to further price increase to the $0.42, later it may extend to $0.50 level. In case the bulls’ pressure are unable to break up the resistance level of $0.30, bears may continue to dominate the Stellar market and the price may decrease towards the $0.22, $0.16 and $0.11 support levels.

Key Levels:

Resistance levels: $0.30, $0.42, $0.50

Support levels: $0.22, $0.16, $0.11

XLM/USD Long-term Trend: Bearish
On the daily chart, Stellar is bearish. The bearish momentum has pushed the coin to the support level of $0.22. The sellers’ pressure is becoming weak and the mentioned level could not be penetrated. Last week, the bulls are gradually increasing their momentum to push the coin towards north side. The price has penetrated the fast moving dynamic resistance upside to indicate an increase in the Bulls’ pressure.

XLMUSD daily chart, June 30

Stellar is trading between the 9 periods EMA and 21 periods EMA which indicate an increase of bullish momentum. Further increase of the bulls’ momentum may break up the resistance level of $0.30, which may leads to further price increase to the $0.42, later it may extend to $0.50 level. In case the bulls’ pressure are unable to break up the resistance level of $0.30, bears may continue to dominate the Stellar market and the price may decrease towards the $0.22, $0.16 and $0.11 support levels. However, the relative strength index period 14 is bending up at 40 levels to indicate buy signal.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. The bearish momentum was rejected at the support level of $0.22 on June 22. A bullish engulfing candle formed triggered the bullish action. The price is increasing towards the resistance level of $0.30. At the moment, it is carrying out a pullback.

XLMUSD 4 hours chart, June 30

The price is trading above the 9 periods EMA and the 21 periods EMA as a sign of bullish movement. However, the Relative Strength Index period 14 is at 50 levels pointing down to indicate sell signal.
You can purchase crypto coins here. Buy Tokens

  • 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
  • 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!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.