XLM/USD (Stellar) Price; Pullback Before Bullish Breakout at $0.24 Envisaged

STELLAR Price Analysis – April 09

In case the bulls maintain their momentum, resistance level of $0.24 may be penetrated and the price will increase towards $0.30, and $0.34. In case the bears, breakdown the support level at $0.20, Stellar will decrease to $0.16 and $0.11 levels.

XLM/USD Market

Key Levels:

Resistance levels: $0.24, $0.30, $0.34

Support levels: $0.20, $0.16, $0.11

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 $0.20 and support level of $0.16. The bulls prevail over the bears and the resistance level of $0.20 turns to support level.

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 $0.24 may be penetrated and the price will increase towards $0.30, and $0.34. In case the bears, breakdown the support level at $0.20, Stellar will decrease to $0.16 and $0.11 levels. The relative strength index period 14 is exhibiting buy signal at 60 levels with the signal line pointing up.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. The resistance level at $0.20 could not hold the price when the bulls gained more pressure. The price soared towards the resistance level of $0.24. Today, the sellers are trying to push the price to retest the broken level. It seems sellers are dominating the market at the moment which may be a pullback.

The price is trading below the 9 periods EMA but above 21 periods EMA with the two EMAs separate from each other. The Relative Strength Index period 14 is at 60 levels and the signal line is exhibiting sell signal which may be a pullback.