XLM/USD Retreats as Price Goes Below $0.082 Level

The Stellar price prediction shows that XLM couldn’t break above the channel after touching the daily high at $0.082.

Stellar Prediction Statistics Data:

• Stellar price now – $0.080
• Stellar market cap – $2.0 billion
• Stellar circulating supply – 26.1 billion
• Stellar total supply – 50 billion
• Stellar Coinmarketcap ranking – #27

XLM/USD Market

Key Levels:

Resistance levels: $0.095, $0.100, $0.105

Support levels: $0.070, $0.065, $0.060

After touching the resistance level of $0.082 today, XLM/USD is trading at $0.080 as the coin nosedives toward the 9-day and 21-day moving averages. However, the market price could move towards the lower boundary of the channel if the trading volume issues a sell signal.

Stellar Price Prediction: XLM Price May Not Be Ready for Higher Levels

At the time of writing, the Stellar price is sliding below the channel as bulls couldn’t keep the coin on the upside. Therefore, any attempt by the buyers to cancel the current bearish movement and push the Stellar price above the upper boundary of the channel is likely for it to touch the resistance level of $0.090.

However, any bullish movement above this level could lead the market to crucial resistance levels at $0.095, $0.100, and $0.105. Looking at the daily chart, if the coin continues to drop towards the moving averages, the XLM price could reach the critical supports at $0.070, $0.065, and $0.060 as the technical indicator Relative Strength Index (14) moves to cross below the 60-level.

Against Bitcoin, the Stellar is crossing below the 9-day and 21-day moving averages with a bearish candle heading towards the lower boundary of the channel. The technical indicator Relative Strength Index (14) is moving to cross below the 40-level, which could bring more bearish signals into the market. However, a further drop could hit the support level of 400 SAT and below.

Nonetheless, any form of a rebound from the current level at 443 SAT could push the coin to the resistance level of 500 SAT and above. But buyers may need to gather enough momentum to push the market price to the north. For now, XLM/BTC is moving bearishly and may begin to rise once the technical indicator turns upward.

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