• On May 15, the XLM coin appreciated to a high of $0.14000 price level.
• The market was on another correction to a low at $0.12000 price level.

XLM/USD Medium-term Trend: Ranging

• Resistance Levels: $0.1300, $0.1400¸ $0.1500
• Support levels: $0.1100, $0.1000, $0.09000

Yesterday, June 20, the price of Stellar was in a sideways trend. On May 15, the XLM coin appreciated to a high of $0.14000 price level. On May 16, the bulls were resisted and the market was on a downward correction to the support of the 12-day EMA. At the support of the 12-day EMA, the bulls made an upward move to retest the $0.14000 overhead resistance. The market was on another correction to a low at $0.12000 price level.

The crypto’s price is below the 12-day EMA and the 26-day EMA which suggest that price may likely fall. However, the moving averages are contracting and trending horizontally indicating that price is in a sideways trend. On the upside, if the bulls break above the EMAs and price is sustained above the EMAs, the crypto’s price will rise to retest the $0.14000 overhead resistance. However, the market may fall if the bulls fail to reach the bullish trend zone.

XLM/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Stellar was in a bearish trend. The downward correction of the price of Stellar was at a low of $0.12100. The support level of $0.12100 was holding as the bulls made an upward move to the bullish trend zone.

The crypto’s price is facing resistance at the $0.12500 price level. Meanwhile, the XLM price is in the overbought region of the daily stochastic but below the 80% range. This implies that price is in a bearish momentum and a sell signal.

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