Stellar: Price Analysis, April 06

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XLM/USD

Stellar is close to its critical support level of $0.184. If this support breaks, the digital currency can decline to $0.16 and below that to $0.1125 levels.




XLM/USD




If the $0.184 support holds, we may see a pullback to the resistance line of the channel. We like the way the RSI has maintained its positive divergence.

We shall wait for prices to turn up and break out of the 20-day EMA before recommending any short-term trade on the XLM/USD pair. A long-term trade setup will form only if prices break out of the descending channel.

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