SeeXLM Price Analysis – July 21
Stellar is showing no major improvement in its trading value as it is still trending in the buying/bearish zone. This might be just the right time for Stellar to move ahead. It’s time to wake up!
Resistance levels: $0.12, $0.13, $0.14
Support levels: $0.05, $0.04, $0.03
Stellar (XLM) is currently dealing with the bears. The coin is tremendously falling on the chart. The drop started yesterday and continued till today. The same wouldn’t last because the crypto market, along with Bitcoin, is climbing up. Bitcoin acts anchor for Stellar, and thus in some time, Stellar would be pulled to a positive price digit to face the resistance levels at $0.12, $0.13 and $0.14 respectively.
Furthermore, the Stellar price came under a lot of selling pressure after it broke the main $0.1000 support level. XLM price even cleared the $0.0920 support level and traded close to the $0.0850 level. If there are more losses, the price may even test the $0.05, $0.04 and $0.03 support levels while the stochastic RSI is already at the overbought zone.
Against Bitcoin, the market price remained in a descending movement for more than three months now, currently trading at the level of 900SAT and expecting a break out below the moving average of 50 days. Looking at the chart, we can see that the bears continue to take control of the market. If the market continues to sell, the next key supports will likely be at 400SAT and below.
However, on the bullish side, a possible rise could bring the market to resistance levels of 1200SAT and 1300SAT. According to the daily stochastic RSI, the market is swimming in the overbought zone, which could trigger a sell on the market soon.
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