After Breaking Out, Stellar (XLM) Fails to Sustain Higher Prices

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In Brief
  • -XLM has broken out from a one-year long range at 900 satoshis.

  • -The price is possibly following an ascending support line. The next support area is found at 755 satoshis.

  • -XLM/USD has found support above $0.087.

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At the beginning of July, the Stellar (XLM) price broke out from a long-term resistance area. However, the price could not sustain the rally and has since fallen back below the breakout level. Unless XLM can successfully reclaim this level, it's outlook remains bearish. Breakout From Long-Term Range Beginning in July 2019, the XLM price consolidated below the 900 satoshi area,

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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