XLM Price Analysis – July 15
XLM/USD is seen rising with a soaring momentum as the coin the high of $0.098.
Resistance levels: $0.105, $0.110, $0.115
Support levels: $0.080 $0.075, $0.070
XLM/USD is currently indicating an uptrend in the market, hovering above the 9-day and 21-day moving averages within the ascending channel. Meanwhile, in the past few days, XLM was seen moving at a high speed in the market. However, recently, the market is projecting a volatile movement where Stellar is spotted following a sideways movement moderately.
However, a fall back-formation below the 9-day moving average could bring the price to the support levels of $0.080, $0.075, and $0.070 after breaking below minor support at $0.085. Moreover, considering a continuous upward trend for this pair, XLM/USD could surge towards the resistance levels of $0.105, $0.110, and $0.115 on a long-term bullish. The stochastic RSI is looking bullish at the moment as the signal line moves around 80-level.
Comparing with Bitcoin, the pair is still trading on the upside and currently trading above the 9-day and 21-day moving averages at 1027 SAT. If the bulls fail to push the price to the north, Stellar (XLM) may likely see a sharp below the 9-day MA. Breaking this barrier could further drag the market to the nearest supports at 850 SAT and below.
In addition, as the stochastic RSI remains around the overbought zone, the coin may likely continue the upward movement in as much as the indicator faces up. More so, Stellar (XLM) is results-oriented crypto and it has also shown great potential in the past. Meanwhile, the recovery is underway and in no time we would see Stellar booking huge profits. The resistance levels to watch are 1200 SAT and above.