STELLAR Price Analysis – July 06
In case the bears further increase their momentum, it may reach and break down the support level of $0.09, below it are $0.07 and $0.05 support levels. When the bears’ pressure unable to break down the support level of $0.09, the price may increase towards the $0.11, $0.16 and $0.20 resistance levels.
Key Levels:
Resistance levels: $0.11, $0.13, $0.16
Support levels: $0.09, $0.07, $0.05
XLM/USD Long-term Trend: Bearish
On the daily chart, Stellar is on the bearish movement. The bears are yet to release the Coin to the bulls. Last week, the price pulled back when double bottom chart pattern formed. It increases toward the resistance level of $0.13, it reached the mark before bears opposed the movement. The bears’ momentum increases and it is currently pushing the price below the former support level of $0.11. The price is heading towards $0.09 level.
Stellar is trading below the 9 periods EMA and 21 periods EMA with the two EMAs bending towards south. There is an indication of an increase in the bears’ momentum. In case the bears further increase their momentum, it may reach and break down the support level of $0.09, below it are $0.07 and $0.05 support levels. When the bears’ pressure unable to break down the support level of $0.09, the price may increase towards the $0.11, $0.16 and $0.20 resistance levels. However, 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 on the 4-hour chart. After the ranging movement on 4-hour chart in Stellar market, the price was on the bullish movement. The bulls’ momentum later increased and the price increased and tested $0.13 resistance level. The bears’ momentum opposed the bulls and the price is declining towards the support level of $0.09 at the moment.
The price is trading below the 9 periods EMA and the 21 periods EMA at close contact as a sign of weak bearish movement. The Relative Strength Index period 14 is at 49 levels displaying a bearish direction,
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