CoinSpeaker
Stellar Price Analysis: XLM/USD Trends of December 13–19, 2018

Supply levels: $0.13, $0.17, $0.21
Demand levels: $0.09, $0.06 $0.04On the long-term outlook, XLM is still in a downtrend. The formation of a bearish engulfing candle on November 19 signaled the bears’ domination on the Stellar market. The bears’ pressure dropped the XLM price to the low of $0.13 price level on November 25. Stellar price engaged in a range bound movement for a week.

On December 5, the Bears’ momentum broke the former demand level $0.13 downside and the coin was exposed to the demand level of $0.09. The crypto has been consolidating since last week between the supply level of $0.13 and the demand level of $0.09.

The Stellar price is below the two EMAs, which implies bears’ pressure. The stochastic oscillator period 14 is in the oversold region and its signal points down at around 18levels. This suggests further downward price movement in the long-term. A breakout at the supply level of $0.13 may be considered for a long position while a breakdown at the demand level of $0.09 may be a short position with good candle pattern as confirmation for entries.

Traders are advised to be patient before taking any position.

XLM is in a ranging movement on the medium-term outlook. XLM price fell to the low of $0.10 from the high of $0.17 price level on December 7. Neither the bulls nor the bears were able to push the coin above or below this level, thus, the Stellar price started consolidation within the range of $0.13 and $0.09 price level.

Stellar price is ranging in between and below 21-day EMA and 50-day EMA, the two EMAs are closed which indicates that consolidation is ongoing. The Stochastic Oscillator period 14 is above 20 levels pointing down, which implies further selling of XLM price.

Stellar Price Analysis: XLM/USD Trends of December 13–19, 2018

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

118 +