XLM Price Analysis – March 21
After the coin has maintained a serious upward movement yesterday, bulls suffer a slight downtrend.
Resistance levels: $0.50, $0.55, $0.60
Support levels: $0.30, $0.25, $0.20
Today, the XLM coin opened at $0.41, and after a mild low swing, it reached $0.39. As the coin faces a rejection above, Stellar pulls back and now trying to strike a rebound. XLM/USD resumes the fall today and has recently bottomed at $0.39. The crypto coin is hustling to start a robust price recovery, but, it seems, it is still facing hurdles.
Where is XLM Price Going Next?
Looking at the daily chart, Stellar is currently trading in a red candle and about to cross below the 9-day moving average, with a potential surge of volatility. Considering a northward movement, the amounts of $0.50, $0.55, and $0.60 could constitute resistance for the market. Alternatively, a movement toward the south could bring support down to $0.30, $0.25, and $0.20, while the RSI (14) is moving below 52-level.
XLM/BTC Market: Consolidating to the Downside
Against Bitcoin, the pair is seen breaking solid support at the 700 SAT below the 21-day moving average around the lower boundary of the channel. Stellar price may likely see another sharp drop at 650 SAT support level if the bulls fail to hold the price. Breaking this level could further drag the market to the nearest support levels at 600 SAT and below.
More so, Stellar (XLM) is currently hovering at 694 SAT, if bulls can hold the price and push it up above the moving averages within the channel, the next key target resistance lies at 800 SAT and above. Meanwhile, RSI (14) moves below 40-level, indicating a downward movement.