Stellar (XLMUSD) breaks a major bearish trend line – Analysis – 07-11-2024 $XLM

Stellar (XLMUSD) extended its gains during its recent trading at the moment levels, confirming with its recent rise the breach of a major bearish trend line in the medium term, supported by the occurrence of positive signals from the relative strength indicators, and by continuous positive pressure due to its trading above its previous 50-day simple moving average.

Therefore, we expect further rise in the currency price during its upcoming trading, as long as the support level 0.085442 remains stable, targeting the important resistance level 0.112427.

Expected trading range 0.089320 (support) - 0.112427 (resistance)

Uptrend forecast