XLM Price Analysis – April 13
Today, it seems that the price of XLM could drop by the end of the day. Anyway, Stellar is trading with bearish nature.
Resistance levels: $0.059, $0.061, $0.063
Support levels: $0.038, $0.036, $0.034
Yesterday, the XLM price trades around $0.050 again but after rising close to $0.052 at $0.051. The crypto market seems to have a dull day even today as the major coin like Bitcoin, Ethereum and XRP have been trading with a downtrend only. Bitcoin price, the anchor has even slipped below $7,000 and is currently correcting upwards.
However, taking a look at the price chart, if the XLM/USD pair continues to stay under the control of bears, the price may roll back to previous supports at $0.038, $0.036 and $0.034 levels. On the upside, the bulls need to break out and push the price towards the next level of resistance at $0.059, $0.061 and $0.063. The RSI (14) is seen moving under level 55, meaning that the sellers may come to play.
Against Bitcoin, Stellar (XLM) seems bearish as the price fell below the 710 SAT mark. Now, the bear seems to be stepping back into the market and the price could fall to 700 SAT and 680 SAT, moving below the 9-day MA before bouncing back to 760 SAT, 780 SAT and 800 SAT which may likely touch the 820 SAT and 840 SAT in an upward range.
However, if the market drops below 700 SAT support, the stellar price could further drop to 650 SAT, 630 SAT and 610 SAT support levels, bringing the price to another low. As the chart shows, Stellar’s volume is decreasing due to the selling pressure on the market. For the RSI (14), the signal line is moving in the same direction around 60-level, a sideways movement might come to play.
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