Stellar (XLM-USD)
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A ranging market was seen in the last 24hrs. The bulls seemed to have the upper hand due to bullish regular divergence pattern that occurs simultaneously. The RSI is ascending thus reflecting strong buying pressure.
XLM/USD pair started trading at $0.123370 but this was later followed by a massive fall which was reflected by the 21 day MA that is seen above the 7 day MA indicating a bearish signal.
On June 4, at 17:00 the price action fell to a low of $0.119232. This was later followed by a short period of consolidation that resulted in the formation of a bearish engulfing candle that further dips the price to a low of $0.116713.The strong selling pressure pushed RSI below level 30 at around 21:00 indicating an overbought market.
A three inside up candle was spotted between 21:00 and 22:00 that resulted in bullish momentum. Price performance was later on shifted up to the current price of $0.124783. This, therefore, placed resistance level at $0.124236 and support level at $0.121926. XLM has breached the previous resistance level of $0.119808; this clearly shows an increase in price performance.
FORECAST
A bullish outlook is likely to continue since RSI is ascending and the 7-day MA is above the 21-day MA in the last few hours thus indicating a bullish signal.
Source: ZyCrypto (https://zycrypto.com/stellar-xlm-cardano-ada-and-tron-trx-price-analysis-and-forecast/)