Stellar: Price Analysis, October 24


Stellar is trading close to the downtrend line of the descending triangle, which is a positive sign. Though it has failed to break out of the overhead resistance, we like the way it has sustained above the moving averages.


If the bulls succeed in breaking out of the triangle, the traders can establish long positions on a close (UTC time frame) above $0.27. The target objective is a rally to $0.36, with a minor resistance at $0.3.

If the XLM/USD pair plummets from the current levels and breaks below the moving averages, a drop to the support zone of $0.184–$0.2 is probable.

Comments (No)

Leave a Reply