Will Stellar (XLM) Continue Its Upward Trend? July 29 XLM Analysis

  • In Stellar (XLM) price analysis, the nearest support level is determined as $0.154.
  • The support range of $0.1443 – $0.14 is of great importance for the continuation of the upward trend.
  • If the XLM price falls below the $0.14 level, it can continue its decline to the $0.1339 levels.

According to Stellar (XLM) price analysis, the near support and resistance levels play an important role. Closures above the $0.154 level support the rise, while movements below the $0.14 level can increase the possibility of a decline. Investors should carefully monitor the determined support and resistance zones.

Medium-Term XLM Analysis

2-Day XLM/USD Price Chart
2-Day XLM/USD Price Chart

When the 2-day technical chart of XLM/USD is examined, it is observed that it received strong buying reactions from the important support level of $0.14 and thus moved its rise to the $0.16 levels. As long as the XLM price stays above the $0.14 support, it can continue its upward trend and advance to the $0.20 levels.

However, it is of great importance for XLM to maintain its critical support level of $0.14. If the XLM price closes below the $0.14 level on a 2-day basis, it can extend its downward movement to the $0.1270 levels.

Closures on a 2-day basis below the $0.1270 support, on the other hand, can accelerate the decline towards the $0.11 levels. There are significant buying orders at these levels, and XLM falling into this support range can trigger XLM whales.

Short-Term XLM Price Analysis

2-Hour XLM/USD Price Chart
2-Hour XLM/USD Price Chart

In Stellar (XLM) price analysis, when the important support and resistance levels are examined, it is seen that the nearest support level for XLM is $0.154. If the XLM price closes below the $0.154 level on a 2-hour basis, it can extend its decline to the support range of $0.1443 – $0.14.

If XLM encounters strong buying reactions from this support range, it can continue its rise to the $0.18 levels. However, for XLM to continue its upward trend, it is of great importance to maintain the support range of $0.1443 – $0.14.

On the other hand, if the XLM price cannot encounter strong buying reactions from the $0.1443 – $0.14 support range and closes below the $0.14 level on a 2-hour basis, XLM can continue its downward movement to the $0.1339 levels.

Another important support for XLM is located at the $0.1339 – $0.13 levels. XLM investors should carefully monitor the critical support and resistance levels mentioned in this analysis and take positions according to the price movement.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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