Stellar Price Retests Low of $0.098 Level, Tamadoge Jumps Northwards

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Buyers are opposing the sellers at $0.098 Level in Stellar market

STELLAR Price Analysis – September 07

Stellar may reach $0.075 and $0.057 provided the support level of $0.098 does not hold. In case the $0.098 holds, the price may increase to the resistance level at $0.13 and $0.15 if the $0.098 level permits

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 started a bearish movement on 04 April after several days of bullish movement; this is clearly noticed when the long daily bearish candle emerges that breaks down the support level of $0.15. More bearish candles continue to emerge and the price declines towards the $0.098 price level. The cryptocurrency is increasing today with the formation of a daily bullish candle, repelling from the $0.098 support level.

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 reach $0.075 and $0.057 provided the support level of $0.098 does not hold. In case the $0.098 holds, the price may increase to the resistance level at $0.13 and $0.15 if the $0.098 level permits. Meanwhile, the relative strength index period 14 is at 39 levels displaying a bearish signal

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XLM/USD Medium-term Trend: Bearish, Tamadoge Jumps Northwards

Stellar’s performance has been very low in the medium-term outlook this may be due to a persistence pressure from the sellers of Stellar. In other words, the price actions are in a downward trend after it breaks down the $0.11 price level. The market is moving lower and this may continue unless there is a strong opposition from the bulls or the support level at $0.098 holds.

An increase in the Bears’ pressure may bring the coin to the low support level of $0.075. The RSI (14) is at 46 with the signal line pointing up to indicate the buy signal.

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