Stellar Price Analysis – April 13
According to the daily chart, the Stellar price rises with a soaring momentum as the coin is ragging above the expected level.
Resistance levels: $0.25, $0.27, $0.29
Support levels: $0.15, $0.13, $0.11
XLM/USD is moving to cross above the 9-day and 21-day moving averages within the channel. Since yesterday, traders have seen the Stellar (XLM) starting a bullish movement. But recently, the market is projecting a volatile movement where Stellar is likely to follow a sideways movement.
Stellar Price Analysis: What Could Be The Next Move for Stellar (XLM)?
At the time of writing, the Stellar price is likely to cross above the upper boundary of the channel. However, a fallback-formation below the 9-day and 21-day moving averages could bring the price to the support levels of $0.15, $0.13, and $0.11 after it could have broken below the minor support at $0.17.
However, considering a bullish movement above the upper boundary of the channel, XLM/USD could surge towards the resistance levels of $0.25, $0.27, and $0.29 on a long-term bullish. Meanwhile, the technical indicator Relative Strength Index (14) is looking slightly bullish at the moment as the signal line moves above the 40-level.
XLM/BTC Market: Price May Head to the Downside
Against Bitcoin, the pair is likely to head to the downside as the price struggles below the 9-day and 21-day moving averages. Stellar price may likely see another sharp drop if the bulls fail to hold the price and any bearish movement towards the lower boundary of the channel could drag the market to the nearest support level at 440 SAT and below.
However, Stellar (XLM) is currently hovering at 475 SAT, if the bulls can hold the price and push it up above the upper boundary of the channel, the next key targets resistance could be located at 520 SAT and above. On the other hand, the technical indicator Relative Strength Index (14) moves below 50-level, indicating a bearish movement.