Stellar is also one of today’s anti-heroes

Stellar is also one of today’s anti-heroes as its price declined for 11.61 percent in the past 24 hours. XLM/USD reached the support area at 0.3189 and jumped off it towards the resistance area at 0.3377. The currency pair has also crossed the descending trend line in passing. There is a Shooting Star candlestick pattern in the moment of writing.

The possible scenarios for XLM/USD are the following:

1. XLM price will jump over the resistance area at 0.3377 and move towards the next resistance level, which lies at 0.3540.

2. XLM/USD will jump off the resistance area at 0.3377 and decline towards the next support area at 0.3189 (the only obstacle is the descending trend line).

3. Stellar will stay close to the current levels without significant changes.

As for the daily chart, Stellar is close to the Ichimoku cloud in the moment of writing. We have a downside midterm tendency, but the situation is still unclear.

Check the full crypto analysis HERE