XLM/USD Price Medium-term Trend: Bearish
Supply levels: $0.25, $0.27, $0.28
Demand level: $0.24, $0.23, $0.22
The XLM price is in a bearish trend yesterday. The bears were able to push the XLM price to the low of $0.22 demand level. The bulls rejected the continuation of price falling; this is confirmed by the formation of long lower wick candle like pin bar that returned the price toward $0.25 supply area. The opening market candle on the 4-Hour chart is bullish which broke the 21-day EMA indicating that the price is about changing to bullish trend zone. The 21-day EMA acted as a resistant for the crypto’s price.
The momentum of Stellar’s price is rising gradually on the upside as the MACD is flipping above the zero level indicating gradual changing of the trend. If the price breaks the $0.25 on the upside, the XLM price will find the previous highs of $0.27 and $0.28.
XLM/USD Price short-term Trend: Bullish
On the short term trend, the XLM price is in a bullish trend. The XLM price has broken upside the supply level of $0.24 and it is above the 21-day EMA and the 50-day EMA indicating that the price is in the bullish trend zone.
The momentum of price is increasing on the upside as the MACD is above the zero level with its signal lines pointing upside which indicate buy signal. If the upward trend continues the resistant levels would be breached.
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