Stellar Analysis (XLM) Monday, April 19
The price of Stellar Digital Currency has been fluctuating within the range of an uptrend channel for five months.
The price has been in the range of an uptrend channel in daily timeframe since the end of November 2020, and now with the price hitting the bottom trend line of this channel during the recent fall, there is a possibility of an uptrend and price correction.
The recent drop in prices caused the Stellar market value to fall by 27%. However, as prices fall below the uptrend channel, we see new activity from buyers.
The last two times the price has hit the bottom of this channel, we have seen an upward trend. Currently, one can expect the price to rise to $ 1.42 in the range of 127.2% Fibonacci.
However, investors must first wait for the price to react to the 50-day moving average indicator. It is also important to break the resistance level of $ 0.58 to $ 0.69 to form an uptrend.
On the other hand, if the price penetrates below the bottom trend line of the uptrend channel at $ 0.40, the probability of a fall in price increases.
In this case, you can expect a 13% drop to $ 0.34.