• The price of Stellar was on a downward correction to a low at $0.08640.
• The market is still in a range-bound move between the levels of $0.1200 and $0.1400.

XLM/USD Medium-term Trend: Ranging

Resistance Levels: $0.1300, $0.1400¸ $0.1500
Support levels: $0.1000, $0.0900, $0.08000

Yesterday, July 11, the price of Stellar was on a downward correction to a low at $0.08640. This was the previous low of May 9. At this low, the bulls made an upward move to reach the $0.1400 overhead resistance level. On July 11, the bears might have exhausted their bearish pressure as the bulls make an upward move to break above the EMAs.

Traders should look out for buy setups in order to initiate long trades in anticipation of a bullish trend. Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400. The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Stellar.

The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the XLM market has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

XLM/USD Short-term Trend: Bullish

On the 1-hour chart, the price of Stellar is in a bullish trend. The 12-day EMA and the 26-day EMA are trending northward. The XLM market reached a high of $0.1000. The bulls attempted to break the $0.1000 but were resisted as the price fell below the EMAs.
Meanwhile, the XLM price is in the overbought region of the daily stochastic but above the 60% range. This implies that price is in a bullish momentum and a buy signal.
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