XLM/USD (Stellar) Price; Would There Be a Bearish Reversal at $0.75 Level?

STELLAR Price Analysis – May 12

Should the bears defend the resistance level of $0.75, bearish movement may commence towards the $0.67, $0.57 and $0.50.

Key Levels:

Resistance levels: $0.75, $0.84, $0.95

Support levels: $0.67, $0.57, $0.50

XLM/USD Long-term Trend: Bullish

Stellar is bullish on the daily chart. The coin moved in the direction it was predicted last week. The crypto obeyed the command of the bulls by increasing to break up the former resistance level of $0.57, the bulls’ momentum extends to $0.67 and the resistance level of $0.75 is tested. The price is currently pulling back to retest the support level of $0.67.

Stellar price is trading above the 9 periods EMA and 21 periods EMA which establish a bullish trend. The bulls maintain their momentum and the price has reached the high of $0.75, in case the mentioned level is penetrated, $0.84 and $0.95 levels may be tested. Should the bears defend the resistance level of $0.75, bearish movement may commence towards the $0.67, $0.57 and $0.50. The relative strength index period 14 is bending down at 60 levels to indicate sell signal.

XLM/USD Medium-term Trend: Bullish

XLM is on the bullish movement in the 4-hour chart. Stellar is increasing as the bulls hold tight to the XLM market. The price touched the resistance level of $0.75 on May 10, it pulled back and retested the $0.75 level second time on May 12. There is tendency that it may fall soon.

The price is trying to cross the 9 periods EMA and the 21 periods EMA downside with the price trading above the two EMAs at close range. The Relative Strength Index period 14 is at 60 levels bending down to indicate sell signal.

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