STELLAR Price Analysis – March 02
The breakup at the resistance level of $0.25 will drive the price towards $0.30, and $0.35. In the same vein, the breakdown of the support level at $0.18 will decrease the price to $0.14 and $0.10 levels.
XLM/USD Market
Key Levels:
Resistance levels: $0.25, $0.30, $0.35
Support levels: $0.18, $0.14, $0.10
XLM/USD Long-term Trend: Ranging
Stellar continues on the ranging movement. The breakout from the ranging mode on the daily chart has not favored the buyers nor the sellers. 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 $0.25 and support level of $0.18.
XLM/USD Medium-term Trend: Ranging
XLM is ranging within the $0.25 and $0.18 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 $0.18 level. The price is ranging within $0.25 and $0.18 price level. Radical fundamental events may be needed to break the coin away from ranging mode, otherwise, consolidation continues until there is a volatility in the Stellar’s market.
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