On 1D (STR/USDT Poloniex) chart we can see formed Falling wedge pattern that might signalising incoming reversal.
NOTE: we need to keep an eye on not only XLM/USD pair but also BTC/USD and XLM/BTC.
Last hours Stellar broke Symmetrical triangle pattern and price falling down to support at 0.00003000 btc. Trend is still bearish but area from 3000 to 2800 satoshi is very strong support and reliable buy zone. Bitcoin is now lying on strong support too and waiting for bullish move. I think, this indicate that we are very close to potential bottom, but remember, if Bitcoin decide to go down to 5K or less, stellar will follow it!
Important points
NOTE: we need to keep an eye on not only XLM/USD pair but also BTC/USD and XLM/BTC.
Last hours Stellar broke Symmetrical triangle pattern and price falling down to support at 0.00003000 btc. Trend is still bearish but area from 3000 to 2800 satoshi is very strong support and reliable buy zone. Bitcoin is now lying on strong support too and waiting for bullish move. I think, this indicate that we are very close to potential bottom, but remember, if Bitcoin decide to go down to 5K or less, stellar will follow it!
Important points
- Stochastic RSI - low (XLM/USD)
- RSI - oversold (XLM/BTC)
- Bitcoin lying on strong support
- Stellar lying on strong support (XLM/BTC)
- Stellar needs to break downtrend line with higher volume