XLM/USD Price Hovers at $0.042; Price May Break Above the Channel – Cryptovibes.com – Daily Cryptocurrency and FX News

XLM Price Analysis – March 9

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

XLM/USD Market
Key Levels:

Resistance levels: $0.50, $0.55, $0.60

Support levels: $0.35, $0.30, $0.25

XLMUSD – Daily Chart
The Stellar (XLM) price indicates an uptrend in the market within the descending channel as the price stays within the 9-day and 21-day moving averages. Recently, the market is planning an unstable movement where Stellar is spotted moving moderately. Meanwhile, the XLM market may likely regain its initial bullish momentum if bulls push the price above the moving averages.

What to Expect from Stellar (XLM)
On the daily chart, Stellar is currently showing an upward trend with a potential surge of volatility. Considering a northward movement, the $0.50, $0.55, and $0.65 could constitute resistance for the market. Alternatively, a movement toward the south could bring support down to $0.35, $0.30, and $0.25, while the technical indicator RSI (14) may give positive signals for Stellar as the signal line moves above 50-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 782 SAT. If the bulls failed to push the price above the upper boundary of the channel, Stellar (XLM) may likely see a sharp drop to 750 SAT support level. Breaking this level could further drag the market to other support levels at 700 SAT and below.

XLMBTC – Daily Chart
Furthermore, as the RSI (14) moves below 40-level, the coin may likely continue the downward movement. In other words, if the 9-day moving average cross above the 21-day moving average, it is likely for XLM/BTC to create a new trend and any bullish movement above the moving averages may likely hit the resistance level of 900 SAT and above.

Source link

The post XLM/USD Price Hovers at $0.042; Price May Break Above the Channel – Cryptovibes.com – Daily Cryptocurrency and FX News appeared first on Crypto new media.

Join the Discussion

  • BrokerEUR/USD
    SpreadEX 0.6pips (variable) margin: 3.33%
  • Back to top