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 XLM was trading for $0.106 at the time of writing. The coin tried to rise above the descending line but fall in buying strength have dragged price below the $0.107 mark. If the coin manages to trade above the $0.107 mark, then it could revisit $0.113. Trading above the $0.113 level will help the bearish thesis to be invalidated. If XLM loses its current price level, it could fall to $0.099. The amount of Stellar traded fell on the chart signifying less buying s...
