Not financial advise do your own research, this is just my opinion.
I'd let my imagination loose and got this, lemme explain.
If Stellar is below the 54 area of the RSI it's most likely heading lower which is a bit more accurate on the USD pair.
Currently the MACD is coming to a halt, which previously was trying to make a bullish cross happen. This week it's slowing down and probably gonna diverge again next week.
The current pattern I see is a H&S for our top formation which could lead is lower.
Being in between the 20 and the 50 DMA bouncing up and down would make a breakout to a side would be likely.
Targets I made are from previous support levels who didn't get tested, the low we got in Dec 2019 didn't get tested and broke thru Bullish / Bearish both times without a test. Possible we can revist this.
When revisiting this it would be possible that the RSI would reset but not completely into oversold region and so stay above 35.64 , which where it went on the 23rd of March when making a new low.
If that would happen we would create a confirmation of a reversal. Having a bullish divergence which then would make a higher low on the chart and RSI.
This also would set us up for a bigger reversal pattern with a big double bottom
This is my opinion of what I've drawn and the worst that could happen IMO at the current timeframe.
I'd let my imagination loose and got this, lemme explain.
If Stellar is below the 54 area of the RSI it's most likely heading lower which is a bit more accurate on the USD pair.
Currently the MACD is coming to a halt, which previously was trying to make a bullish cross happen. This week it's slowing down and probably gonna diverge again next week.
The current pattern I see is a H&S for our top formation which could lead is lower.
Being in between the 20 and the 50 DMA bouncing up and down would make a breakout to a side would be likely.
Targets I made are from previous support levels who didn't get tested, the low we got in Dec 2019 didn't get tested and broke thru Bullish / Bearish both times without a test. Possible we can revist this.
When revisiting this it would be possible that the RSI would reset but not completely into oversold region and so stay above 35.64 , which where it went on the 23rd of March when making a new low.
If that would happen we would create a confirmation of a reversal. Having a bullish divergence which then would make a higher low on the chart and RSI.
This also would set us up for a bigger reversal pattern with a big double bottom
This is my opinion of what I've drawn and the worst that could happen IMO at the current timeframe.