Stellar Price May Retests Previous Low at $0.098 Level, Tamadoge Heads to the North

 Buyers are quitting Stellar market

STELLAR Price Analysis – September 13

The price may retest the previous low at $0.075 and $0.057 provided the bears increase their momentum. In case the buyers gain more momentum, Stellar may increase to the resistance level at $0.11 and $0.13 and may extend to $0.15 resistance level.

XLM/USD Market

Key Levels:

Resistance levels: $0.11, $0.13, $0.15

Support levels: $0.098, $0.075, $0.057

XLM/USD Long-term Trend: Bearish

Stellar is bearish in the long-term outlook. When the bullish movement started on 13 July after several days of bearish movement, the resistance level of $0.12 withstand the bulls’ pressure. The price returned to the south and the previous low was tested on 06 September. Bulls gained more pressure and the price increases to test the resistance level of $0.11. At the moment, the price is subjecting to the sellers’ pressure.

The daily chart has shown that sellers are dominating the market. The price has cross over the 9 periods EMA and 21 periods EMA downside and the former EMA is below the later confirming the bearish trend. The price may retest the previous low at $0.075 and $0.057 provided the bears increase their momentum. In case the buyers gain more momentum, the price may increase to the resistance level at $0.11 and $0.13 and may extend to $0.15 resistance level.

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XLM/USD Medium-term Trend: Bearish, Tamadoge Heads to the North

Stellar is bearish in the 4- hour chart. When the price reached the support level of $0.098 on 19 August, the price commences a ranging movement within the $0.098 support level and $0.11 resistance level. Bulls’ performance favored the coin. It increases and tests the resistance level of $0.11. The sellers defend the just mentioned level and it is pulling back.

XLM is trading below the 9 periods EMA and 21 periods EMA with a strong bearish candle. . The RSI (14) is at 34 with the signal line pointing down to indicate the sell signal.

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Related

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