Stellar: Price Analysis, October 12

XLM/USD

The fall in Stellar hit our stop loss suggested at $0.21. The current pullback attempt might face resistance at the 50-day SMA and the 20-day EMA.




XLM/USD




The XLM/USD pair will invalidate the descending triangle pattern if it can sustain above the downtrend line. The failure of a bearish pattern is a bullish sign; hence, we might suggest long positions on a successive close above $0.26.

On the downside, any break below the Oct. 10 intraday lows can push the price towards the critical support of $0.184.

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