XLM Price Analysis – July 04
In case the market continues the down-surge, $0.06 price level may likely be tested in the next few negative moves and the XLM/USD pair might further look for lower price levels in case the bears continue to show commitment.
Resistance levels: $0.071, $0.082, $0.09
Support levels: $0.060, $0.052, $0.044
XLM/USD is under the bears’ pressure as the coin drops to near the support level of $0.06. On June 27, it declined to test the just mentioned level but the level holds the price and it pulled back to retest the two dynamic resistance levels. Looking at the daily chart, the XLM price is now hovering around the two EMAs. In case the market continues the down-surge, $0.06 price level is likely to revisit in the next few negative moves. More so, the XLM/USD pair might further look for lower price levels if the bears continue to show commitment.
Moreover, the market may continue to follow the downward trend as the technical indicator RSI (14) moves below 40-level. Taking a look at the daily chart, we can see the trading volume is becoming low. If the XLM/USD pair continues to stay under the control of bears, the price may roll to the supports at $0.06, $0.052, and $0.044 levels. On the upside, we can expect the next resistance levels at $0.071, $0.082, and $0.09.
When pairing XLM with Bitcoin, XLM is bearish. The coin performance is becoming low due to a recurring bearish sentiment which has caused the market to fall slightly. In other words, the price has been down for the last few weeks. The market is currently following the downtrend but traders have to be on the watch for the possible positive directions in the market soon.
Should the coin experience a positive upsurge, the 800 SAT, 860 SAT, and 910 SAT are the major resistance levels for the coin for now. At the moment the movement of the market is bearish. It is revealed that XLM/BTC focuses at the south as RSI (14) moves to touch the 40-level which indicates further decrease in price.