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 discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

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