Stellar cryptocurrency can be expected to rise further toward the next resistance level 0.2675 (top of wave iv from last month).
- Stellar reversed from support zone
- Likely to rise to resistance level 0.2675
Stellar cryptocurrency recently reversed up with the daily Japanese candlesticks reversal pattern Bullish Engulfing from the support zone set between the major long-term support level 0.2200 (which has been reversing the price from March, as can be seen from the daily Stellar chart below) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the started the active minor impulse wave iii (which belongs to the higher order impulse waves 3 and (C)) – which then broke the daily down channel from the start of May.
Given the strength of the active impulse wave iii and the bullish sentiment that can be seen across the cryptocurrency markets today, Stellar cryptocurrency can be expected to rise further toward the next resistance level 0.2675 (top of wave iv from last month).
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