Stellar Price Analysis – November 27
As seen on the daily chart, the bears are stepping back into the market as the Stellar (XLM) faces the south.
Resistance levels: $0.38, $0.40, $0.42
Support levels: $0.28, $0.26, $0.24
The XLM/USD is facing rejection after touching the daily high of $0.33. Stellar is seen pulling back and now trying to strike a rebound at $0.31. After breaking below the opening price, XLM/USD falls and touches the low of $0.32. The crypto coin is hustling to start a robust price recovery, but, it seems, it is still facing some serious hurdles.
Stellar Price Analysis: XLM Price Not Yet Ready for the Upside
Looking at the daily chart, the Stellar price is currently in a red candle and moving towards the downside with a potential surge of volatility. Meanwhile, considering a northward movement, the resistance levels of $0.38, $0.40, and $0.42 could constitute resistance for the market while a continued movement towards the south could bring the support down to $0.28, $0.26, and $0.24 levels. Moreover, the technical indicator Relative Strength Index (14) is making an attempt to cross below 40-level to give more bearish signals.
XLM/BTC Market: Price Remains at the Downside
Comparing with Bitcoin, the Stellar price is currently breaking solid support at 600 SAT. As the market follows the downward trend; Stellar (XLM) may likely see another sharp drop at the support level of 580 SAT. Breaking this level could further drag the market to the nearest support levels at 565 SAT and below.
However, XLM/BTC is currently changing hands at 591 SAT and if the bulls can hold the current price and push the coin above the upper boundary of the channel, the next key target price may be located at 635 SAT and above. Moreover, reaching this level might move the coin to the higher level. Meanwhile, the technical indicator Relative Strength Index (14) is facing the downside; there might be more bearish signals if it crosses below 50-level.