Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.
In the past few days, XLM was trading in a range-bouned. The support of the range is $0.30, whereas, the resistance is at $0.40. Just above $0.40 level, XLM will face many hurdles in its way to resume the uptrend. There is the trendline which behaves previously as a support, and there are the moving averages. Moreover, the 20-day EMA broke below the 50-day SMA which considered a bearish crossover.
Finally. there is the upper resistance line of the downtrend channel. I believe that XLM will face a selling pressure from the moving averages and the upper resistance line of the downtrend channel.
Hence, we may consider buying stellar after breaking out the channel.
In the way down, $0.30 level has proved to be strong support, so if any dips to that level hold the price we may open long. However, XLM will be negative if $0.30 level broken down.
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