Stellar Price Analysis – September 20
The Stellar price slips to $0.28 and the coin may likely create a new low or recover from slippery.
Resistance levels: $0.35, $0.36, $0.37
Support levels: $0.25, $0.24, $0.23
XLM/USD is experiencing a severe fall beneath the long-term support at $0.30, which is now, subject 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 may be losing momentum to the lower side of the descending channel along with a potential price surge, if bulls failed to push the Stellar price upward.
Stellar Price Analysis: XLM Price Ready for More Falls
The Stellar price remains below the 9-day and 21-day moving averages and if the coin continues to stay under the control of bears, the market price could drop to the nearest supports at $0.25, $0.24, and $0.23. Meanwhile, on the upside, the bulls need to push the price above the 9-day and 21-day moving averages as crossing above this barrier may cause XLM/USD to find the potential resistance levels at $0.35, $0.36, and $0.37. Meanwhile, the technical indicator Relative Strength Index (14) is now moving below 40-level which means that the coin may remain at the downside.
XLM/BTC Market: Price May Falls More
When compares with Bitcoin, the market is seen to be moving below the 9-day and 21-day moving averages and within the channel where the price is moving towards the lower boundary of the channel. Meanwhile, should the price cross below the lower boundary of the channel, XLM/BTC may likely touch the nearest support level of 580 SAT and below.
However, if the bulls could push the market price above the 21-day moving average, Stellar (XLM) may reach the resistance level of 720 SAT and above. Meanwhile, as the 9-day MA stays below the 21-day MA and the technical indicator Relative Strength Index (14) also confirms this, the market may continue to move at the downside.