Stellar Price Analysis: Traders Wait For a Positive Movement

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Stellar is trading under the moving averages. XLM/USD hasn't been able to break above the 20-day EMA. You can see the chart and notice how 20-day EMA ( black line) forms a strong barrier for XLM to advance. Additionally, the pair has broken down $0.072 support level. Both $0.072 and 20-day EMA are nearly at the same level.

  The bulls needs to get the price above these two resistance to resume the uptrend. If they succeed, Stellar will move up to 50-day EMA, then to $0.093 level.

 If the price sustains below the critical support for a long time, it will be negative for Stellar. It's not recommended buying under resistance, therefore, traders should wait until a new buy setup appears.

XLM Chart Analysis



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