Stellar Price Analysis: XLM/USD bulls push price above the downward trending line

XLM/USD bulls have stayed in control of the market for the fourth straight day.
The MACD shows that market momentum is about to reverse from bearish to bullish.

Rajarshi Mitra Independent Analyst

XLM/USD daily chart

XLM/USD bulls managed to stay in control for the fourth straight day as the price went up from $0.0667 to $0.0679. XLM/USD has managed to cross over the downward trending line and will now aim for the SMA 20 curve.

The signal line is about to cross over the MACD line to show a reversal of bearish momentum. Finally, William’s R has jumped up and is about to enter the overbought zone.

Support and resistance

XLM/USD has strong resistance at $0.06926 (SMA 20), $0.0693 and $0.07089 (SMA 50). On the downside, there two healthy support levels at $0.0661 and $0.0641

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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XLM/USD daily chart

Support and resistance

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