Stellar Price Analysis – June 26
The bears are stepping back into the market as the Stellar (XLM) faces the south.
XLM/USD Market
Key Levels:
Resistance levels: $0.17, $0.19, $0.21
Support levels: $0.09, $0.07, $0.05
The XLM price is facing rejection after the coin failed to cross above the upper boundary of the channel. The Stellar price is seen pulling back and now trying to stay above the 9-day moving average. After attempting to break above the channel, XLM/USD falls tremendously to cross below the 9-day moving average. The crypto is hustling to start a robust price recovery, but, it seems, it is still facing some serious hurdles.
Stellar Price Analysis: XLM Price May Consolidate before Facing the Upside
Looking at the daily chart, Stellar (XLM) is currently trading in a red candle, and it is already trading towards the downside with a potential surge of volatility. Meanwhile, considering a northward movement, the $0.17, $0.19, and $0.21 could constitute resistance for the market, while a continued movement towards the south could bring support down to $0.09, $0.07, and $0.05 levels. Moreover, the technical indicator Relative Strength Index (14) is attempting to cross below the 50-level to give more bearish signals.
XLM/BTC Market: Keeps the Price at the Upside
Compared with Bitcoin, the coin is heading towards the support level of 550 SAT. As the market follows the downward trend; Stellar (XLM) may likely see another sharp drop below the 9-day moving average. Breaking this barrier could further drag the market to the nearest support levels at 520 SAT, 500 SAT, and 480 SAT.
However, XLM is currently changing hands at 579 SAT and if the bulls can hold the price and push the coin above the upper boundary of the channel, the next key target price may be located at 650 SAT and 670 SAT respectively. Reaching these levels might move it to the 690 SAT level. Meanwhile, the technical indicator Relative Strength Index (14) is facing the downside; there might be more bearish signals if it crosses below the 60-level.
