Stellar: Price Analysis, April 04

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XLM/USD

Stellar continues to trade inside the descending channel. It failed to break out of the 20-day EMA on April 03. $0.18 is the critical support on the downside, below which, the fall might extend to $0.16.




XLM/USD




The only bullish development on the chart is the positive divergence on the RSI, but until the price confirms a turnaround, we aren’t suggesting any long positions.

We wait for the XLM/USD pair to break out of the resistance line of the descending channel before initiating any positions.

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