XLM Price Analysis – March 18
Today, the XLM price is nose-diving and testing the support level at $0.035 right now.
Resistance levels: $0.050, $0.055, $0.060
Support levels: $0.020, $0.015, $0.010
Yesterday, the currency opened at $0.035 level and started forming higher highs while holding a positive bias for the better part of the day. Meanwhile, the XLM coin price has also traced a dip at $0.035 before touching $0.038 as the market opens today. Stellar has resumed the price drop and the coin is declining with a loss of 4.5%.
Looking at the price chart, we can see that the trading volume is still low. If the Stellar (XLM) price continues to stay under the control of bears, the price may reach the supports at $0.020, $0.015 and $0.010. On the upside, we can expect the next level of resistance at $0.050, $0.055 and $0.060. The RSI (14) is moving in the same direction, which indicates an indecisive in the market movement.
Against Bitcoin, the pair is seen breaking solid support at the 675 SAT below the 9-day moving average around the middle boundary of the Bollinger bands. Stellar price may likely see another sharp drop at 650 SAT support level if the bulls fail to hold the price. Breaking this level could further drag the market to the nearest support levels at 600 SAT and below.
More so, Stellar (XLM) is currently hovering at 675 SAT, if the bulls can hold the price and push it up across the upper side of the channel, the next key targets resistance lies at 780 SAT and above. Meanwhile, RSI (14) has nosedived below 48-level, indicating more bearish signals.
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