• The Stellar price prediction shows that XLM couldn’t break above the channel after touching the daily high at $0.082.
• If the buyers attempt to push the Stellar price above the upper boundary of the channel, it is likely to touch the resistance level of $0.090.
• If the coin continues to drop towards the moving averages, the XLM price could reach the support levels at $0.070, $0.065, and $0.060.
The Stellar price prediction is currently showing a slight bearish trend as the coin failed to break above the channel after touching the daily high at $0.082. The XLM/USD is trading at $0.080 and could move towards the lower boundary of the channel if the trading volume issues a sell signal.
If the buyers attempt to push the Stellar price above the upper boundary of the channel, it is likely to touch the resistance level of $0.090. Above this level, the market could move towards the crucial resistance levels at $0.095, $0.100, and $0.105.
On the other hand, if the coin continues to drop towards the moving averages, the XLM price could reach the support levels at $0.070, $0.065, and $0.060. These levels are crucial for the survival of the coin and could be the major deciding factor on whether or not the coin will be able to sustain its bullish momentum.
At the moment, the Stellar price prediction is showing a bearish trend and it is important to note that the price could continue to remain in this range-bound pattern or it could experience a major breakout in either direction. Investors should remain cautious and monitor the market closely to identify the best entry and exit points.