In case the bears exert more pressure on the Stellar price and the demand level of $0.10 does not hold the coin will fall and may have its support at $0.09 – $0.06.
Key Highlights:
- Stellar price is consolidating at $0.10 price level;
- the coin is trading below the two EMAs;
- the bears may still hold the XLM market.
XLM/USD price Long-term Trend: Ranging
Supply levels: $0.12, $0.13, $0.15
Demand levels: $0.10, $0.09 $0.06
Should the bulls defend the demand level of $0.13 and the price bounces the Stellar price will rally towards $0.12 supply level which may have its target at $0.13 – $0.15. In case the bears exert more pressure on the XLM price and the demand level of $0.10 does not hold the coin will fall and may have its support at $0.09 – $0.06. Stellar price is under the 21-day EMA and the 50-day EMA and the Stochastic Oscillator period 14 is at the oversold level below 20 levels and the signal lines point down indicates that the XLM price may fall further.
XLM/USD Price Medium-term Trend: Bearish
The 50-day EMA remains above the 21-day EMA with the coin trading below the two EMAs as an indication of bears’ momentum in the XLM market. The stochastic Oscillator period 14 is below 40 levels with signal lines point to the south indicate sell signal.
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