XLM/USD (Stellar) Price; Is This a Pullback or Bearish Reverse?

7 April 2021 | Updated: 7 April 2021
STELLAR Price Analysis – April 07

In case the bulls maintain their momentum, resistance level of $0.50 may be penetrated and the price will increase towards $0.57, and $0.65. In case the bears, breakdown the support level at $0.42, Stellar will decrease to $0.33 and $0.22 levels.

XLM/USD Market
Key Levels:

Resistance levels: $0.50, $0.57, $0.65

Support levels: $0.42, $0.33, $0.22

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. XLM eventually breakout towards north side. The crypto was on the ranging movement for more than two weeks within the former resistance level of $0.42 and support level of $0.33. The bulls prevail over the bears and the resistance level of $0.42 turns to support level.

XLMUSD daily chart, April 07

Stellar price has cross the two EMAs upside and it is trading above the 9 periods EMA and 21 periods EMA with the two separate from each other which indicate that bulls are dominating Stellar market. The price is currently carrying out retracement. In case the bulls maintain their momentum, resistance level of $0.50 may be penetrated and the price will increase towards $0.57, and $0.65. In case the bears, breakdown the support level at $0.42, Stellar will decrease to $0.33 and $0.22 levels. The relative strength index period 14 is exhibiting sell signal at 50 levels with the signal line bending down.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. The resistance level at $0.42 could not hold the price when the bulls gained more pressure. The price soared towards the resistance level of $0.57. Today, the sellers are trying to push the price to retest the broken level. It seems sellers are dominating the market at the moment.

XLMUSD 4–hour chart, April 07

The price is trading below the 9 periods EMA and 21 periods EMA with the two EMAs separate from each other to indicate bearish momentum. The Relative Strength Index period 14 is at 50 levels and the signal line is exhibiting sell signal.

 

 

 

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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.