Stellar Price Analysis – July 2
Stellar price keeps moving under the bearish movement but the coin is yet to break above the channel.
Resistance levels: $0.35, $0.37, $0.39
Support levels: $0.17, $0.15, $0.13
According to the daily chart, XLM/USD is seen hovering below the 9-day and 21-day moving averages as the price hovers at the $0.25 level with the intraday price facing down. Today, the Stellar price touches the daily high of $0.27 but later dropped to where it is currently trading. Over the past 24 hours, the coin has done some little shifts and the latest loss is around 4.79%.
Stellar Price Analysis: What to Expect from Stellar (XLM)
The daily chart reveals that the sellers are making a serious effort to keep the coin below the upper boundary of the channel. Meanwhile, if the bears can successfully keep the price below the 9-day and 21-day moving averages, the nearest support level may be located at $0.20. Meanwhile, a further bearish movement may bring the Stellar price to the critical support levels of $0.17, $0.15, and $0.14.
On the contrary, if XLM/USD decides to cross above the upper boundary of the channel, the next key resistance may likely be at $0.30, and further bullish movement could hit the potential resistance at $0.35, $0.37, and $0.39 levels. Nevertheless, the technical indicator Relative Strength Index (14) is currently crossing below 40-level, suggesting more bearish signals into the market.
XLM/BTC Market: Consolidating to the Downside
Against Bitcoin, Stellar has been moving sideways within the 9-day and 21-day moving averages. Its performance has been very low due to a recurring bearish sentiment which has caused the market to fall gradually. However, the price actions remain choppy as the coin keeps following the sideways movement since last month.
Moreover, the Stellar market is indecisive now but the traders need to be on the watch for the next possible direction. Meanwhile, for a positive upsurge, the 950 SAT and 1000 SAT are the major resistance levels for the coin for now but a negative spike could retest the important support at 700 SAT before a possible slip to 650 SAT and below. The RSI (14) may cross below 40-level to indicate a bearish signal.