XLM Price Analysis – September 21
Stellar is again falling at a fast pace and the counters are disappointing the traders.
Resistance levels: $0.100, $0.110, $0.120
Support levels: $0.050, $0.040, $0.030
A few days ago, we saw the XLM coin marking an escalation of about 15%. The price movement affects extreme counters. It is recommended that traders remain calm because there is a possibility of a rise in the price of XLM in the coming months. Yesterday’s stellar price counters have been seen ranging from a high of $0.0811270 to a low of $0.0700085.
Looking at the price movement yesterday, the stellar price fell to $0.070 from $0.081. Today, the coin price touched $0.074 above the 21-day EMA and fell in the later hours to $0.071; a further drop could bring the price to the support levels of $0.050, $0.040, and $0.030 after breaking below minor support at $0.065. Considering a trend reversal for this pair, Stellar could surge to $0.100, $0.067 and $0.068 on a long-term bullish.
The Stochastic RSI is conversely bullish but hovering around the upper limit for the past two days. This shows that the bulls are getting weak as the price may fall soonest. Meanwhile, MACD is trying to make a positive cross too and waiting for a confirmed bullish move for the market.
Against Bitcoin, looking at the market structure, we can see that XLM is still sitting at 713 SAT. If the price level can hold well, we may see a buyback at 800 SAT resistance before breaking up the 1000 SAT and above. But as it stands now, the bears are attempting to visit close supports before climbing higher.
Moreover, as the stochastic RSI recovers from the overbought condition and the MACD signal lines is still at the negative side, if the price fluctuates below the 21-day EMA, corresponding with the 691 SAT support, we can expect the XLM market to resume its bearish pressure.
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