STELLAR price triggers a buying pressure and forms a daily hammer candlestick pattern with a trade above $0.401.
12-hour (RSI) prints an oversold reading similar to the February 2020 low.
Ascending channel’s lower trend line shifts from support to resistance.
STELLAR price could not escape yesterday’s selling pressure and collapsed below the May 19 crash low before rebounding back above the strategically important 200-day SMA. Based on prices from exchangers, it was the largest weekly fall since August 2014 at -48.90%. The channel’s lower trend line and the 200-day SMA likely to keep Stellar range bound for the foreseeable future.