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Buyers are quitting Stellar market.
STELLAR Price Analysis – 19 November
In case bears increase their momentum price may retest the previous low at $0.083 and $0.079 provided the support level of $0.087 level permits. Should the buyers gain more momentum, Stellar may increase to the resistance level at $0.09 and $0.10 and may extend to the $0.11 resistance level.
XLM/USD Market
Key Levels:
Resistance levels: $0.09, $0.10, $0.11
Support levels: $0.087, $0.083, $0.079
XLM/USD Long-term Trend: Bearish
Stellar is bearish in the long-term outlook. When the bullish movement started on 03 September, it increased and tested the resistance level of $0.12. The resistance level of $0.12 withstands the bulls’ pressure. The price returned to the south and the previous low was tested on 13 October at $0.10. It consolidated for a few days. Sellers exerted strong bearish momentum with the formation of strong bearish daily candles. The support level of $0.08 is tested. Bulls gained pressure and the price increased to retest the resistance level of $0.09. At the moment, the price is below $0.09.
The price has crossed the 9-periods EMA and 21-periods EMA downside and the former EMA is below the latter confirming the bearish trend. In case bears increase their momentum price may retest the previous low at $0.083 and $0.079 provided the support level of $0.087 level permits. Should the buyers gain more momentum, the price may increase to the resistance level at $0.09 and $0.10 and may extend to the $0.11 resistance level.
XLM/USD Medium-term Trend: Bearish
Stellar is bearish in the 4- hour chart. After the long time ranging movement within the $0.11 and $0.10 levels, the sellers prevailed and the price decreased to the support level of $0.087 on 09 November. The price bounced up to retest the resistance level of $0.098. At the moment, sellers are exerting more pressure.
XLM is trading below the 9-periods EMA and 21-periods EMA with a bearish candle. . The RSI (14) is at 49 levels with the signal line pointing down to indicate the sell signal.
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