Stellar Price Analysis – June 20
The Stellar price slips to $0.26 and in the nearest term, the coin may likely create a new low or recover from slippery.
Resistance levels: $0.40, $0.45, $0.50
Support levels: $0.16, $0.11, $0.6
XLM/USD is experiencing a severe fall beneath the long-term support at $0.26, which is now, subject to the price actions below the 9-day and 21-day moving averages over the past few days of trading. At the time of writing, the coin may be losing momentum to the lower side of the descending channel along with a potential price surge, if bulls failed to push the Stellar price upward.
Stellar Price Analysis: Where is XLM Price Going Next?
The Stellar price remains below the 9-day and 21-day moving averages and if the coin decides to stay under the control of bears, the market price could drop to the nearest supports at $0.16, $0.11, and $0.6. Meanwhile, on the upside, the bulls need to push the price above the 9-day and 21-day MAs as crossing above this barrier may cause XLM/USD to find the potential resistance levels at $0.40, $0.45, and $0.50. Meanwhile, the technical indicator Relative Strength Index (14) is now moving around 35-level which means that the coin may begin to work on the new trend.
XLM/BTC Market: Keep Moving Sideways
When compares with Bitcoin, the market is seen to be moving below the 9-day and 21-day moving averages and within the channel where the price is moving towards the lower boundary of the channel. Meanwhile, should the price cross below the lower boundary of the channel, XLM/BTC may likely touch the nearest support level of 650 SAT and below.
However, if the bulls could push the market price above the 9-day moving average, Stellar (XLM) may reach the resistance level of 1000 SAT and above. Meanwhile, as the 9-day MA stays below the 21-day MA and the technical indicator Relative Strength Index (14) also confirms this as the signal line is seen moving at the downside.