• On May 16, the XLM/USD pair reached a high of $0.1400 overhead resistance level.
• The small body candlesticks are like the Doji and the Spinning tops which described the indecision between the buyers and sellers at the current market price.

XLM/USD Medium-term Trend: Ranging

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

The XLM/USD pair is now in a bearish trend. The bears have broken out of the current range-bound move. On May 16, the XLM/USD pair reached a high of $0.1400 overhead resistance level. The bulls made  three attempts in breaking the $0.1400 overhead resistance level. On each attempt at the $0.1400 resistance level, the bulls were resisted and the price would fall to the support of the 12-day EMA. The 12-day EMA and the 26-day EMA are horizontally flat indicating that price is in a sideways trend.

The crypto’s price is also characterized by small body candlestick which fluctuates below and above the EMAs. The small body candlesticks are like the Doji and the Spinning tops which described the indecision between the buyers and sellers at the current market price. These small body candlesticks are responsible for poor price movement. The crypto’s price is below the EMAs which indicate that price is likely to fall. If the bearish pressure continues, the crypto will find support aof $0.00900.

XLM/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Stellar is in a bearish trend. On June 29, the bulls were resisted at the $0.1175 price level and XLM/USD pair was on a downward correction to a low at $0.10250 price level. The crypto’s price is now in a tight range bound move. Meanwhile, the XLM price is in the oversold region of the daily stochastic but below the 20% range. This implies that price is in a bearish momentum and a sell signal.

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