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Stellar Price Analysis – Support Breach Imminent

Stellar price:$0.851
Key XLM resistance levels:$0.1370, $0.1670
Key XLM support levels:$0.850, $0.600

*Price at the time of writing


Stellar Long Term Price Prediction: Bearish

Stellar Lumens XLM, -4.34% has lost 30% of its value over the last thirty days, The currency looks to continue in its downward trend as it tests its historical support at $0.850 and lower to $0.600. So far, volume remains consistent with the charts and the MACD has made a bearish signal line cross. We could, therefore, see a continuation of the current downtrend over the long-term.

Stellar Medium Term Price Prediction: Bearish

Looking at the daily charts, we see that XLM is struggling to keep its head above water as all momentum indicators are pointing downwards. Using linear regression techniques, we can assess the extent of the downtrend. We can see a sideways trading action with the trend strongly suggesting a continuation of the current sell-off.

The RSI is pointing downwards but it is not yet in the oversold position. There’s still plenty of room for the RSI to make lower lows before it reaches this critical area, so in probabilities, we can expect prices to drop below its key support levels.

Stellar Short Term Price Prediction: Bearish

On the 4-hourly charts, we can expect prices to dip lower. Prices right now are below its 20-hour EMA and is now breaching the lower Bollinger Band. By looking at the EMA, it tells us that we can expect prices to continue to fall, especially since the bands have now widened to include additional volatility and price movement.

Given the coin’s volume profile, momentum, and key support and resistance levels, it would be safe to say that a support breach is likely over the short-term unless the coin can make an unexpected rally to the upside.

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