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Stellar Price Analysis: XLM/USD faces bearish correction after four bullish days

  • XLM/USD bears aim to negate this Friday’s gains.
  • The RSI looks to dip below the overbought zone.
Stellar Price Analysis: XLM/USD faces bearish correction after four bullish days
Rajarshi MitraRajarshi MitraIndependent Analyst

XLM/USD daily chart

XLM/USD daily chart

XLM/USD finally faced bearish correction following four straight bullish days. The price has dropped from $0.1035 to $0.1016 as it consolidates in a pennant formation. The RSI looks to dip below the overbought zone. 

XLM/USD bears will want to conquer the $0.0953 and $0.0893 to continue the downward momentum. On the upside, there is strong resistance at $0.104. 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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