XLM/USD (Stellar) Price; Ranging Movement Continues Within $0.42 and $0.33

17 March 2021 | Updated: 17 March 2021
STELLAR Price Analysis – March 17

The breakup at the resistance level of $0.42 will drive the price towards $0.50, and $0.57. In the same vein, the breakdown of the support level at $0.33 will decrease the price to $0.22 and $0.16 levels.

XLM/USD Market
Key Levels:

Resistance levels: $0.42, $0.50, $0.57

Support levels: $0.33, $0.22, $0.16

XLM/USD Long-term Trend: Ranging

Stellar continues on the ranging movement. The breakout from the symmetrical triangle 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 $0.42 and support level of $0.33.

XLMUSD Daily chart, March 17

The 9 periods EMA remains interlocked with the 21 periods EMA and the price is trading over and around the two EMAs which indicate that consolidation continues in the XLM market.  A radical fundamental events is needed to breakout the price from the ranging mode. The breakup at the resistance level of $0.42 will drive the price towards $0.50, and $0.57. In the same vein, the breakdown of the support level at $0.33 will decrease the price to $0.22 and $0.16 levels. However, the relative strength index period 14 is pointing up at 50 levels which connotes buy signal.

XLM/USD Medium-term Trend: Ranging

XLM is ranging within the $0.42 and $0.33 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 $0.33 level. The price is ranging within $0.42 and $0.33price 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 Stellar’s market.

XLMUSD 4-h-our chart, March 17

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 not displaying specific price direction.

 

 

 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

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.