On September 6, 2019, the XLM price reached a low of 554 satoshis. An upward move was followed by a decrease. The price reached similar levels on September 14. It has been increasing since.

Stellar Price: Trends and Highlights for September 16
- XLM/BTC has made a double bottom pattern.
- A bullish divergence has developed in the RSI & MACD.
- There is resistance at 595 satoshis.
- XLM is trading inside a long-term descending channel.
Double Bottom
A closer look at the period discussed in the introduction shows that the Stellar price has created a double bottom at the 550 satoshi level.

Reversal Areas
A resistance area is below. We can find it at 595 satoshis.
Long-Term Channel
Looking at the daily chart we can see that the Stellar price has been trading inside a descending channel since the beginning of July.
Stellar Price Summary
The XLM price has recently made a double bottom pattern. According to our analysis, it is likely to increase until it reaches the resistance area, and possibly higher. For hypothetical trading purposes, we consider XLM a buy at the current level near 570 satoshis. Do you think the Stellar price will reach the resistance area? Let us know in the comments below.Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Images are courtesy of Shutterstock, TradingView.
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Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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