XLM/USD Long-term Trend: Bullish

Supply zone: $0.2500, $0.3000, $0.3500
Demand zone: $0.1500, $0.1000, $0.0500

Stellar continues in a bullish trend in the long-term outlook. The bullish pressure resulted in the cryptocurrency price up until $0.2212 in the supply area on July 3rd. They could not sustain the momentum as the bears set in and pushed price down to $0.1955 in the demand area.

The horizontal trendline was broken at the fourth touch as you can see this was because of the bullish increased momentum. Upward movement in the price of the coin was seen as $0.2125 in the supply area was attained.

Price is above the 10-day EMA and the week opened bullish at $0.1999 compared to last week opening of $0.1922. This implies bulls presence and pressure may prevail as the week progresses as new high of $0.2500 may be the bulls target in the long-term.

 

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

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