Stellar Lumens (XLM) has been trapped between $0.066 and $0.072 after the last breakdown. The bulls and bears are in price tussle as the market reached a low of $0.066.
On June 15, the bulls bought from the dips to push prices to the $0.072 high. However, the upward move was short-lived as the uptrend was terminated at the recent high.
The upward movement will be in jeopardy if the price turns down from $0.072 high and breaks below $0.066 low. XLM will drop again to $0.064 low. On the other hand, if buyers push XLM above the $0.072 resistance, the market will rise and reach the highs of $0.078 and $0.084.Nonetheless, there is the appearance of a Doji candlestick at the downtrend. It indicates that the prior trend is losing strength and that price is likely to reverse.
Stellar is above the 25 % range of the daily stochastic. It indicates that the market is in a bullish momentum. However, the price action is indicating a bearish signal at the time of writing. The price bars are below the EMAs which make the coin susceptible to fall.
Key Resistance Zones: $0.082, $0.084, $0.086
Key Support Zones: $0.068, $0.066, $0.064
Stellar is struggling both to break above $0.072 resistance and resume the uptrend, or it may fall below $0.066 low. However, if the Doji candlestick signals are correct, the market will move up. Stellar is currently on a downward move to retest the lower price range.
Disclaimer. This analysis and forecast are the personal opinions of the author that are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.