Stellar (XLMUSD) analysis and forecast (Mon, Sept 10th, 2018): A trend reversal awaited

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A regular bullish divergence was formed, Stellar seems to have escaped its two-month low.

Last Wednesday, Stellar witnessed a downside breakout from the rectangle shape, which had been formed by the price movement in August. Since then, this cryptocurrency has has suffered a 11% decline and has fallen into a two-month low of $0.18766.

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Stellar (XLMUSD) D1 chart on September 10th, 2018

In H4 timeframe, a regular bullish divergence was found. The price of Stellar is going down gradually and is making lower lows while the Relative Strength Index - RSI (14) - is drawing higher lows on its value graph. It’s likely that the current downtrend is coming to an end and the price is going to enter a reversal.

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Stellar (XLMUSD) H4 chart on September 10th, 2018

It’s anticipated that within today, Stellar will retreat from its current price of $0.1919 but will not be lower than the level of $0.187. If RSI graph fails to record a new low, a reversal to a bullish market seems to be confirmed. If not, Stellar may drop to its solid support of $0.17508.

Written by nami.today

 

 

 

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