XLM Price Analysis – December 29
Stellar (XLM) slips to $0.120 and in the nearest term, the coin may likely create a new low or recover from slippery.
Resistance levels: $0.180, $0.200, $0.220
Support levels: $0.090, $0.070, $0.050
XLM/USD is experiencing a severe fall beneath the long-term support at $0.145, which is now, subjected to the price actions below the 9-day and 21-day moving averages over the past few days of trading. At the time of writing, the coin is losing momentum to the lower side of the descending channel along with a potential price surge.
Where is XLM Price Going Next?
XLM/USD remains below the moving averages and if the coin decides to stay under the control of bears, the market price could drop to the nearest supports at $0.090, $0.070, and $0.050. Meanwhile, on the upside, the bulls need to push the price above the moving averages; crossing above the upper boundary of the channel may find the resistance levels at $0.180, $0.200, and $0.220 levels. Meanwhile, the technical indicator RSI (14) is now moving below the 45-level, indicating an additional bearish signals into the market.
XLM/BTC Market: Moving Towards the Downside
When compares with Bitcoin, the market is seen to be moving below the moving averages and within the descending channel where the price is moving towards the lower boundary of the channel. Meanwhile, should the price remain within the descending channel, the coin may likely touch the nearest support level of 300 SAT and below.
On the other hand, if the bulls could push the market price above the 9-day and 21-day moving averages, Stellar (XLM) may reach the resistance level of 700 SAT and above respectively. The technical indicator RSI (14) confirms that the market may remain at the downside as the signal line moves toward the oversold region.