Stellar / Dollar may fall to 0.1011 - 0.1023

0.1070 is our pivot point.

Our preference

The downside prevails as long as 0.1070 is resistance.

Alternative scenario

The upside breakout of 0.1070, would call for 0.1091 and 0.1103.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.1069 and 0.1076). Finally, the Stellar / Dollar is trading below its lower Bollinger band (standing at 0.1055).

Supports and resistances

0.1103 **

0.1091 *

0.1070 **

0.1062

0.1052 last

0.1023

0.1011 **

0.0998 *

0.0986 **

Number of asterisks represents the strength of support and resistance levels.