This website uses cookies to ensure you get the best experience on our website
CRYPTOALTUM IS EVOLVING! EXCITING CHANGES COMING SOON 

Technical Analysis for XLMUSD for 19th January 2023

Stellar Retracing from $0.09, Swings Price Action to Bearish



Past Performance of XLM

Stellar may be up 30 percent from December lows but is trapped below a critical resistance level, reading from the formation in the daily chart. Overall, traders are confident of what lies ahead. All the same, there must be a solid gain above December highs for trend continuation and confirmation.


Stellar Technical Analysis

XLM prices have been solid from the past trading week. As it is, there is a double top at $0.09, a line that flashes with this week's highs and around the top of the consolidation of the last week of November. The lower lows registered from early this week are negative for bulls. While confidence in traders is because the correction is with lower volumes, XLM must hold above $0.08 or November 9 lows. Any breakout below this level may trigger a sell-off, pushing the coin toward $0.07. Conversely, gains above $0.09 may see XLM float to $1 or November 9 high, especially if the breakout has high trading volumes.


What to Expect from XLM

Bears are in a commanding position as long as XLM is within the bear-engulfing bars of early November. For trend definition and bears to shake off selling pressure, there must be a convincing break above this week's highs, confirming buyers of last week.


Resistance level to watch: $0.09

Support level to watch: $0.08


Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.


Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Amsa LLC (CryptoAltum) 2020