Stellar Price Analysis – July 26
Stellar (XLM) is a volatile coin as the price fluctuates; the cryptocurrency has always been notable.
Resistance levels: $0.35, $0.37, $0.39
Support levels: $0.20, $0.18, $0.16
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.
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.