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XLM/USD Price Price May Break Above the Channel – – Daily

Stellar Price Analysis – July 26

Stellar (XLM) is a volatile coin as the price fluctuates; the cryptocurrency has always been notable.

XLM/USD Market

Key Levels:

Resistance levels: $0.35, $0.37, $0.39

Support levels: $0.20, $0.18, $0.16

Stellar Price Analysis
XLMUSD – Daily Chart

XLM/USD is currently indicating an uptrend in the market within the descending channel as the price crosses above the 9-day and 21-day moving averages. Not quite long, the Stellar price is planning an unstable movement where the coin is spotted moving moderately. However, XLM/USD may likely regain its initial bullish momentum if bulls push the price above the moving averages.

Stellar Price Analysis: Stellar (XLM) May Locate Higher Resistance

Looking at the daily chart, the Stellar price is showing an upward trend with a potential surge of volatility. Considering a northward movement, the $0.35, $0.37, and $0.39 levels could constitute resistance for the market. Alternatively, a movement toward the south could bring support down to $0.20, $0.18, and $0.16 levels, while the technical indicator Relative Strength Index (14) may give positive signals for Stellar as the signal line moves to cross above 60-level.

XLM/BTC Market: Consolidating to the Downside

Against Bitcoin, the pair is following the downtrend, currently trading below the 9-day and 21-day moving averages at 710 SAT. If the bears continue to push the coin towards the lower boundary of the channel, Stellar (XLM) may likely see a sharp drop to the 650 SAT support level. Breaking this level could further drag the market to other support levels at 600 SAT and below.

XLMBTC – Daily Chart

However, as the technical indicator Relative Strength Index (14) moves to cross below 40-level, the Stellar price may likely continue the downward movement. On the contrary, if the red-line of the 9-day moving average crosses above the green-line of the 21-day moving average, it is likely for the Stellar (XLM) to create a new trend and any bullish movement above the upper boundary of the channel could hit the resistance level of 850 SAT and above.

Read More: XLM/USD Price Price May Break Above the Channel – – Daily

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