Sellers are increasing their momentum
STELLAR Price Analysis – 08 December
In case bears increase their momentum price may close below the support level of $0.083 and the low of $0.079 and $0.068 may be tested. Should the buyers gain more momentum, Stellar may be rejected at $0.083 level, increase to the resistance level at $0.087, $0.09 and may extend to $0.10 resistance level.
Resistance levels: $0.087, $0.09, $0.10
Support levels: $0.083, $0.079, $0.068
XLM/USD Long-term Trend: Bearish
Stellar is bearish in the long-term outlook. The Crypto declines from the resistance level of $0.11. The price reduces to $0.083 support level on 09 November after it broke down the former support level of $0.098 and $0.087. The price bounced up and retested the resistance level of $0.098. Sellers would not let buyers have their way, the bullish momentum was rejected and the bearish movement continues. It is trying to break down the $0.083 at the moment.
The price has crossed the 9-periods EMA and 21-periods EMA downside and the former EMA is below the later confirming the bearish trend. In case bears increase their momentum price may close below the support level of $0.083 and the low of $0.079 and $0.068 may be tested. Should the buyers gain more momentum, the price may be rejected at $0.083 level, increase to the resistance level at $0.087, $0.09 and may extend to $0.10 resistance level.
XLM/USD Medium-term Trend: Bearish
Stellar is bearish in the 4- hour chart. The support level of $0.083 has been tested three times. Buyers tried to push up the price but sellers refused to let Stellar go. The price decreased further to test the support level of $0.083. It is trying to break down the just mentioned level.
XLM is trading below the 9-periods EMA and 21-periods EMA with a bearish candle. . The Relative Strength Index period 14 is at 34 levels with the signal line pointing down to indicate the sell signal. Stellar is going down while IMPT is going up.
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