Stellar is struggling to rally above the $0.303 levels. However, the only small positive is that it has not given up much ground after returning from the 20-day EMA on June 04.
We suggest to hold the long positions that triggered on June 03 but the stops should be trailed higher to just under $0.27 because the 50-day SMA is flat and the 20-day EMA is turning down, which is a bearish indication. Hence, let’s reduce our risk.
If the XLM/USD pair breaks out and closes above $0.303, it should move up to the 50-day SMA at $0.346 and above that to $0.38 levels.