• On the downside, if the bearish trend continues, the market will fall to the previous low of  $0.07832.
• On the other hand, if the $0.0800 support level holds, the bulls will retest the EMAs and reach the bullish trend zone.

XLM/USD Medium-term Trend: Ranging

• Resistance Levels: $0.1300, $0.1400¸ $0.1500
• Support levels: $0.0900, $0.0800, $0.0700

Yesterday, July 29 the price of Stellar was on a downward fall after being resisted by the 12-day EMA. On the downside, if the bearish trend continues, the market will fall to the previous low of  $0.07832. As the market approaches the February low, traders should look out to buy setups to initiate long trades in anticipation of a bullish trend.

On the other hand, if the $0.0800 support level holds, the bulls will retest the EMAs and reach the bullish trend zone. Meanwhile, the XLM market has reached the oversold region of the daily stochastic but below 40% range. This indicates that price is in a bearish momentum and a sell signal.

XLM/USD Short-term Trend: Ranging

On the 1-hour chart, the price of Stellar is in a sideways trend. The 12-day EMA and the 26-day EMA are trending horizontally. On July 27, the market fell to the low of $0.08300 and  the crypto commenced a range-bound move below and above EMAs.

Meanwhile, the XLM price is in the oversold region of the daily stochastic but above the 860% range. This implies that price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.