Stellar Attempts to Hold on Above $0.10 Support

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In Brief
  • XLM has broken out from a yearlong resistance area at $0.087

  • There is short-term support and resistance at $0.10 and $0.117.

  • The correct wave count cannot be accurately determined at the current time.

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The Stellar (XLM) price has broken out from a long-term resistance area and is trading inside a shorter-term range. Until the price breaks upwards or downwards from the latter, we cannot accurately determine the direction of the future movement. Weakness After the Breakout On July 5, the XLM price broke out from the $0.087 area, which had been providing resistance since July 2019.

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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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