Stellar’s XLM aims to touch the golden ratio in the upcoming days and the price could experience a bear trend. The positive news is that there was a golden crossover in the daily exchange rate which only confirms the bullish trend in the medium-term so we are about to read more about it in the following stellar analysis news.
The ratio is now set at $0.065 and this can be slightly interrupted by Stellar’s XLM price once it touches the horizontal resistance between $0.073 and $0.079 which is where the Stellar Lumens price was rejected and is now finding support between $0.055 and $0.058. It became clear that the weekly price of the 50-week EMA was the resistance level which was significant and cannot be divided so it is a strong obstacle for the price.
If the XLM price manages to break the resistance then it will be able to find the golden ratio at $0.1 mark which acts as a strong resistance. The price has to be broken by the horizontal resistance at about $0.089 and if you see the monthly price it looks like the Stellar Lumens price will get rejected at the Golden Ratio at the end of May. This can confirm the bear trend and the price of the asset that is now above the golden ratio at $0.0065 and it was supported at the $0.382 fib level. If Stellar’s XLM aims to reach the new correction level, there will be a possible target for correction of the $0.045 level.
Against Bitcoin, the Stellar Lumens price reached the golden ratio at 0.000007 BTC and it bounced strongly as well. The XLM price found resistance at the 200-day EMA and the 0.382 fib level which was set at 0.00000795 BTC. 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.
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