Stellar: Price Analysis, June 06

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XLM/USD

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.




XLM/USD




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.

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