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 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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