Stellar XLM looks ready for another price surge after it gained more than 35% over the past month and reached a level of $0.070. In today’s Stellar analysis we take a closer look at the price action.
The cryptocurrency is holding a support level of $0.066 and it remains above the rising trend line. XLM suffered against Bitcoin back in May after it fell from the 850 SAT but the bulls are now fighting to remain above the 700 SAT support level. Stellar XLM looks at another price surge after it ended the month of April with a considerable surge, rising from the trend line at around $0.045 and pushing higher. It went on to climb as high as the $0.075 by the end of April.
During May, XLM had a hard time continuing the bullish run as it failed to overcome the resistance of the $0.0757 level and it dropped lower from here but rebounded to the support of $0.058. since the rebound, XLM traded sideways over the past week and remained above $0.066 but failed to break the $0.075. If the buyers can continue to defend the $0.0668 support, the first major level of resistance to overcome is waiting at $0.071.
Above these levels, the resistance can be found at $0.0757 fib retracement and $0.08 fib extension. This is of course followed by added resistance at the $0.085. on the other side, if the sellers manage to push beneath the $0.066 support, the added support will be waiting at the $0.061 level and the rising trend line. The support is located at $0.0588 and $0.052 level. The RSI is trading along the 50 lines as indecision looms on the market. for another push higher the RSI has to push above the 50 levels and climb to show increasing bullish momentum.
XLM reached a high-day closing against Bitcoin of around 880 SAT to the end of April. In May, XLM dropped from 860 SAT and fell beneath the 200-day EMA. The buyers were having a hard time keeping XLM above this level for the past 10 days of trading. If the sellers do penetrate beneath the 708 SAT and push below the 700 SAT, the support can be expected at 680 SAT. On the other side, the first major level of resistance is at 720 SAT while above this the support can be found at 750 SAT and 780 SAT.
Stellar XLM looks ready for another price surge after it gained more than 35% over the past month and reached a level of $0.070. In today’s Stellar analysis we take a closer look at the price action.
The cryptocurrency is holding a support level of $0.066 and it remains above the rising trend line. XLM suffered against Bitcoin back in May after it fell from the 850 SAT but the bulls are now fighting to remain above the 700 SAT support level. Stellar XLM looks at another price surge after it ended the month of April with a considerable surge, rising from the trend line at around $0.045 and pushing higher. It went on to climb as high as the $0.075 by the end of April.
During May, XLM had a hard time continuing the bullish run as it failed to overcome the resistance of the $0.0757 level and it dropped lower from here but rebounded to the support of $0.058. since the rebound, XLM traded sideways over the past week and remained above $0.066 but failed to break the $0.075. If the buyers can continue to defend the $0.0668 support, the first major level of resistance to overcome is waiting at $0.071.
Above these levels, the resistance can be found at $0.0757 fib retracement and $0.08 fib extension. This is of course followed by added resistance at the $0.085. on the other side, if the sellers manage to push beneath the $0.066 support, the added support will be waiting at the $0.061 level and the rising trend line. The support is located at $0.0588 and $0.052 level. The RSI is trading along the 50 lines as indecision looms on the market. for another push higher the RSI has to push above the 50 levels and climb to show increasing bullish momentum.
XLM reached a high-day closing against Bitcoin of around 880 SAT to the end of April. In May, XLM dropped from 860 SAT and fell beneath the 200-day EMA. The buyers were having a hard time keeping XLM above this level for the past 10 days of trading. If the sellers do penetrate beneath the 708 SAT and push below the 700 SAT, the support can be expected at 680 SAT. On the other side, the first major level of resistance is at 720 SAT while above this the support can be found at 750 SAT and 780 SAT.
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