XLM/USD (Stellar) Price Reaches a Bullish Reversal Level

STELLAR Price Analysis – May 26

In case the bulls maintain their momentum, the price will break up the resistance level of $0.50, and the price will reach the high of $0.57, which may extend to $0.67 level. In case the bulls are unable to break up the resistance level of $0.50, bearish movement may continue towards the $0.42, $0.33 and $0.22.

Key Levels:

Resistance levels: $0.50, $0.57, $0.67

Support levels: $0.42, $0.33, $0.22

XLM/USD Long-term Trend: Bearish

Stellar is bearish on the daily chart. The bulls surrendered for the bears on May 19, when the bears influx the market with full force. This is noticed with the formation of strong bearish candle. The candle engulfed five days previous candles. Stellar is under the control of the bears. The bearish pressure decreased the price to the support level of $0.33 level. The bulls are defending the level with the formation of bullish candles at the moment.

Stellar price is increasing, trying to penetrate the 9 periods EMA and 21 periods EMA upside which connote an increase in bullish momentum. In case the bulls maintain their momentum, the price will break up the resistance level of $0.50, and the price will reach the high of $0.57, which may extend to $0.67 level. In case the bulls are unable to break up the resistance level of $0.50, bearish movement may continue towards the $0.42, $0.33 and $0.22. The relative strength index period 14 is bending up at 40 levels to indicate buy signal.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. Stellar found support at $0.33 level. It bounces from the level with the formation of a pin bar candle. This is a bullish reversal signal to the Stellar market. At the moment, the price is increasing towards the resistance level of $0.50.

The price has crossed the 9 periods EMA and the 21 periods EMA upside and it is trading above the two EMAs. The Relative Strength Index period 14 is at 60 levels pointing up to indicate buy signal.

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