Stellar (XLMUSD) Price Forecast: July 21
The XLMUSD at the moment is currently recovering and also maintains strength above the supply levels. The price may likely rally above the $0.19599 supply trend level as the crypto is showing positive signs above the $0.16799 supply value. If the coin holders could prove stronger and the price shows sustainability above the $0.19599 previous high value, its upside moves could extend further to reach the $0.20000 upper resistance level and beyond, resulting in an intraday gain and a potential buy signal for the coin holders.
Key Levels:
Resistance Levels: $0.16000, $0.17000, $0.18000
Support Levels: $0.10000, $0.09000, $0.08000
XLM (USD) Long-term Trend: Bullish (Daily Chart)
XLMUSD is in a bullish trend in its long-term outlook. The coin price is now strongly trading above the moving averages with huge volumes from the bulls.
The sustained bullish pressure pushed the currency pair up to the $0.16799 supply level during yesterday’s session and sustained it; this has enhanced the crypto price to remain firm above the supply levels in its recent high.
The bulls continue the journey up north to the $0.18118 high value above the supply trend levels as the daily session resumes today.
Today, the market price of Stellar at the $0.18118 high level which is above the moving averages as the daily chart opens implies that the price is in an uptrend, and from the way it is at the moment, it will keep growing.
Thus, under the influence of this chart setup, the coin price is likely to challenge the $0.19599 neckline resistance to complete this pattern.
Notably, the daily stochastic indicates an uptrend, hence, there is a tendency for the coin to rise further, if the support level holds, this will enable buyers to take the price up to a high of $0.20000 soon in its long-term perspective.
XLM (USD) Medium-term Trend: Bullish (4H Chart)
Amid the increasing bearishness in the crypto market, XLMUSD remains bullish on the medium-term time frames. This is clear as we can see the prices trading above the two EMAs, indicating an uptrend.
The persistent bullish pressure pushed the currency pair up to the $0.16799 supply level during the last session and sustained it. This has made it capable for the coin to remain firm in an uptrend in recent times.
The drop in the price of Stellar to the $0.16096 low value as the 4-hourly chart commenced today has no serious effect on the market as the price remains in an uptrend. Hence, staying above the supply levels indicates a strong possibility for a bullish correction.
Therefore, if the bulls could add more strength to their pricing activities, the coin price could turn upside to revisit the $0.19599 previous high which would invalidate any further thesis.
In addition to that, if all the support holds in place, the price of XLMUSD might possibly jump up to the $0.20000 upper high level soon in its medium-term outlook.
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