TL; DR breakdown
- The stellar price prediction shows that the crypto token is moving towards the lower side of the trend line of the ascending parallel channel.
- If the current demand zone rose from $ 0.44 to $ 0.44, the cryptocurrency could rise over 200 percent to record historical numbers.
- Unless Stellar levels above current support, a bearish outlook should gain momentum.
For the past week, Stellar has seen dismal performance in the market. Although the current price movement is bad for the crypto token, Stellar now appears to be nearing an up and coming launchpad that promises to take it to a higher level.
Stellar Price Prediction: General Price Overview
At the time of writing, at the intersection of the final 78 percent retracement level at $ 0.55 and the 361 percent Fibo expansion level at $ 0.55, Stellar is trading hands amid a significant level of resistance. Additionally, Stellar is swapping hands under the latest ATH and the bottom of the previous Cup-with-Handle pattern at $ 0.61. This fact proves to be a difficult pill to swallow for bullish opportunists as the coin is difficult to invest in when looking for short-term returns.
According to Stellar’s weekly price movement, it is clear that the crypto coin has suffered a 30 percent deterioration in price, pushing it towards the $ 0.4-0.45 demand zone. Although this drop in prices represents a bad development, the demand zone promises to push the crypto coin to better heights. According to our analysis, Stellar is poised to break the $ 1 mark in the emerging bullish narrative. At the same time, the current price of Stellar coincides with the lower trend line of the ascending parallel channel. In the lower trend line, Stellar’s Bull Run has always taken place since the end of 2020 when there was a decline of this magnitude.
Typically, the lower trendline is created whenever the higher lows and highs are linked using trendlines. At the time of writing, 2 of the 3 higher lows have popped out of the lower trendline to move towards the upper bound. This means that Stellar is seeing small but consistent upward price movements that could cause it to jump above the 130 Fibo expansion levels at $ 1.5.
However, in order for Stellar to reach such highs, it must overcome important obstacles between $ 0.57 and $ 0.7. Previously, Stellar had encountered great resistance due to extreme selling pressure at these critical barriers. However, if the crypto coin manages to cross this range, there is a high probability that a price increase of 200 percent towards the $ 1.5 mark will be achieved.
Excellent price movement over the past 24 hours
According to Stellar’s 24-hour price movement, the crypto coin must have a critical closing price above the $ 0.4 mark to sustain bullish momentum. However, if it does not level off above this region, Stellar will see a new downward price move that could cause it to slide towards the $ 0.32 region. Such a price action coincides with the Fibo degree of expansion of 78 percent.
Stellar 4 hour chart
According to Stellar’s 4-hour chart, the bulls must come and save the crypto coin. Aside from the fact that the blue MACD line is below the signal level, historical and technical factors seem to favor further price declines.
Stellar is currently not the only cryptocurrency that has caught on in the market. Almost all of the top 10 altcoin movers on the market are struggling to switch their price movement from red to green. It will take a few days for a significant price correction to be captured from the perspective of things.
Disclaimer of liability. The information provided is not trading advice. Cryptopolitan.com is not liable for investments made on the basis of the information provided on this page. We strongly recommend doing independent research and / or consulting a qualified professional before making any investment decisions.