Stellar XLM price analysis 16 August 2019; $0.068 support holds

Stellar XLM has actually been one of the best performers in today’s trading session. Even though that may sound like something positive, looking at other cryptos in the market, it doesn’t really amount to much in the end.

However, XLM managed to find itself in a very peculiar position right between major resistances and supports, today’s trading session’s last hours could potentially determine the final outcome for this coin.

We’ll be using our Stellar XLM price analysis to somehow find the major support and resistance levels and see if the coin could test them.

Stellar XLM price analysis

XLM chart Trading View

Stellar XLM price analysis: Resistance and Support

Looking at the chart we can immediately see two very important support levels. They lay at $0.066 and $0.065 respectively, but it doesn’t seem like they’ll be broken during the weekend sell-off.

As for the resistance, we can expect a very fierce fight between bears and bulls at the $0.070 price levels, which will most likely be tested this weekend but will probably not pass.

Right now, XLM is dependant on Bitcoin‘s performance starting Monday as it’s poised to follow it step by step.