XLM/USD (Stellar) Price Experiences Bearish Reversal at $0.78 Level, Targeting $0.50
Login

XLM/USD (Stellar) Price Experiences Bearish Reversal at $0.78 Level, Targeting $0.50

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


STELLAR Price Analysis – May 19

Should the bears maintain their momentum, the price will break down the support level of $0.57, and the price will reach the low of $0.50, which may extend to $0.42 level. In case the bulls defend the support level of $0.57, bullish movement may commence towards the $0.67, $0.78 and $0.84.

Key Levels:

Resistance levels: $0.67, $0.78, $0.84

Support levels: $0.57, $0.50, $0.42

XLM/USD Long-term Trend: Bearish

Stellar is bearish on the daily chart. Two days ago, Stellar was under the control of the bulls. The bullish pressure increased the price to the resistance level of $0.78 level. The bears defended the level with the formation of bearish candles, this prevents further price increase. The price decline and penetrate the support level of $0.67 downside. It is currently trying to break down $0.57 level.

XLMUSD Daily chart, May 19

Stellar price is trading below the 9 periods EMA and 21 periods EMA which establish a bearish trend. Should the bears maintain their momentum, the price will break down the support level of $0.57, and the price will reach the low of $0.50, which may extend to $0.42 level. In case the bulls defend the support level of $0.57, bullish movement may commence towards the $0.67, $0.78 and $0.84. The relative strength index period 14 is bending down at 40 levels to indicate sell signal.

XLM/USD Medium-term Trend: Bearish

XLM is on the bearish movement in the 4-hour chart. Stellar is decreasing as the bears’ pressure increases. The price broke down support level at $0.67 and consolidates for two days. Further increase in the bears’ momentum was experienced and the price is declining towards the $0.50 support level.

XLMUSD 4 hour chart, May 19

The price has crossed the 9 periods EMA and the 21 periods EMA downside with the price trading below the two EMAs at distance. The Relative Strength Index period 14 is at 40 levels bending down to indicate sell signal.

You can purchase crypto coins here: Buy coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 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

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News