- Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400.
- The price of Stellar was on a downward correction as it broke the lower price range and approaches the low at $0.0 7820.
XLM/USD Medium-term Trend: Ranging
- Resistance Levels: $0.1300, $0.1400¸ $0.1500
- Support levels: $0.0900, $0.0800, $0.0700
Yesterday, July 15, the price of Stellar was on a downward correction as it broke the lower price range to a low at $0.0 7820. This was the previous low of February 5. As the market approaches the February low, traders should lookout for buy setups to initiate long trades in anticipation of a bullish trend.The market may hold on February 5, as the crypto’s price will respect the historical price level. Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400.
The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Stellar. The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the XLM market has reached the oversold region of the daily stochastic but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.
XLM/USD Short-term Trend: Bearish
On the 1-hour chart, the price of Stellar is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. The XLM market has fallen to the $0.007800 price level. Meanwhile, the XLM price is in the oversold region of the daily stochastic but above the 20% range. This implies that price is in a bullish momentum and a buy signal.
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[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.