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Stellar Technical Analysis | 11 January 2019

2019-01-11 08:56 am | Resource: Technical Analysis Section | No Views : 37

Stellar Technical Analysis | 11 January 2019 Stellar (XLM) due to the momentum of buyers failed to stabilize above the $ 0.1228 area thus falling towards areas of $ 0.1014.
The encrypted currency broke the bullish trend line during morning trading yesterday and was confirmed by breaking the bottom of $ 0.1060.
The digital currency Stellar is trading in a bearish direction in a sub-configuration supported by a breakout of the resistance area of ​​$ 0.1228 and breaking the ascending trend line over the 240-minute interval.
From the previous chart, we see a break of the lower leg of a classic symmetrical triangle pattern during yesterday morning trading.
Stellar Technical Analysis | 11 January 2019The ADX index confirms the strength of the current bearish trend.
The simple moving average and the slow moving average are pointing down as a result of the negative cross that occurred during yesterday's trading.
From MACD with regular settings, its signal is bearish at the moment.

Outlook:

It is expected that, in the event of a break of the digital currency areas levels of $ 0.1272 may target levels of $ 0.1432.
On the other hand, if the digital currency is broken, the $ 0.100 level may target the $ 0.0767 level.
Support: 0.10 - 0.0959 - 0.09127
Resistance: 0.1228- 0.1460 - 0.1716
Trend: Down

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