XLM/USD (Stellar) Price: Ranging Movement Continues Within $0.20 and $0.16
Login

XLM/USD (Stellar) Price: Ranging Movement Continues Within $0.20 and $0.16

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

Azeez Mustapha

Updated:


STELLAR Price Analysis – February 02

The breakup at the resistance level of $0.20 will drive the price towards $0.24, and $0.30. In the same vein, the breakdown of the support level at $0.16 will decrease the price to $0.11 and $0.07 levels.

XLM/USD Market

Key Levels:

Resistance levels: $0.20, $0.24, $0.30

Support levels: $0.16, $0.11, $0.07

XLM/USD Long-term Trend: Ranging

Stellar continues on the ranging movement. The breakout from the last month ranging movement on the daily chart favored the sellers. When the price decline to the support level of $0.16, the traders are expecting a further decrease but the support level of $0.16 holds. At the moment traders are expecting a breakout to the north or south but the bulls and the bears have not gain enough momentum to drive the market. The ranging movement still continues within the resistance level of $0.20 and support level of $0.16.

The 9 periods EMA remains below the 21 periods EMA and the price is trading over and around the 9 EMAs which indicate that sellers still hold the XLM market.  A radical fundamental events is needed to breakout the price from the ranging mode. The breakup at the resistance level of $0.20 will drive the price towards $0.24, and $0.30. In the same vein, the breakdown of the support level at $0.16 will decrease the price to $0.11 and $0.07 levels. However, the relative strength index period 14 is pointing up at 40 levels which connotes buy signal.

XLM/USD Medium-term Trend: Ranging

XLM is ranging within the $0.20 and $0.16 price level. The buyers’ pressure remains low and could not drive up the price. Likewise, the sellers’ pressure is equally weak and could not push down the price beyond $0.16 level. The price is ranging within $0.20 and $0.16 price level. Radical fundamental events may be needed to break the coin away from consolidation mode, otherwise, consolidation continues until there is a volatility in the Steller’s market.

The price is trading over and around the 9 periods EMA and 21 periods EMA with the two interlocked to each other. The Relative Strength Index period 14 is at 50 levels and the signal line is displaying bearish direction.

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