Stellar (XLM) picked up pace on the daily chart as the coin registered some upward movement. The coin has been trading within a descending channel. Although the coin was moving sideways, if bulls reclaim the chart XLM can break above the channel.
Technical outlook for the coin remained bearish. Buying strength also remained considerably low. Recent sell off in the market has caused the coin to lose its $0.107 support line. If the coin does not rise above the resistance mark of $0.107 then the altcoin is set to lose some of its value again.
Buying strength has to recover in the market for the altcoin to break over the descending trendline. For bearish thesis to be invalidated, it is important for Stellar to trade above the $0.113. For Stellar to maintain its recovery, buying strength needs to immediately re-enter the market. The global cryptocurrency market cap today is $968 Billion with a 2.0% positive change in the last 24 hours.
Stellar Price Analysis: Four Hour Chart
Stellar was priced at $0.106 on the four hour ..
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