Stellar tests 0.5390 price level

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Source: Dukascopy Bank SA


Donald Trump's victory has positively impacted the crypto market, boosting both Bitcoin and altcoins, with XLM seeing significant price gains.

Stellar coin has gained more than 380% since Donald Trump's victory in the U.S. elections. XLM is testing the 50% Fibonacci retracement at the $0.539 price level, and the 61.80% Fibonacci retracement at the $0.4389 level could act as support in the near term. If these price levels hold, there is a potentially higher probability of further price discovery.

The price could potentially test the resistance at 0.962 if the price momentum continues.

However, if the support at the 0.44523 level is broken, further downward price discovery can be expected, with elevated levels of volatility.
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