Should the bulls increase its momentum and breakout at the supply level of $0.15 Stellar traders can place a long position trade setup.
A breakdown at the demand level of $0.09 may be a short position with good candle pattern as confirmation for entries. Traders are advised to be patient before taking any position.
The strong demand level of $0.13 was broken downside last week and Stellar price may have its low at the demand level of $0.10 as more strong bearish candles are forming which indicates that bears’ pressure is increasing.
In case the bulls gain enough momentum to break up the supply level of $0.17, Stellar will rally to the north and have its target at the $0.20 price level. Should the supply level of $0.17 holds XLM will have its low at $0.10 price level.
In case the demand level of $0.19 holds the Stellar price may bounce and the bulls may reverse the trend.
The strong bearish candle that broke down the demand levels of $0.25 and $0.23 and closed below the dynamic support and resistance is an indication that downtrend movements in Stellar price may continue.
Should the bears continue with their increased momentum the Stellar price would break the demand level of $0.23 and expose to the demand level of $0.22.
Stellar price may break the demand level of $0.23, the downtrend movement will be experienced and it will be exposed to the demand level of $0.20
The price broke the demand level of $0.24 and the downtrend movement was experienced and this exposed it to another demand level of $0.21.