XLMUSD Long-term Trend: Bullish
Supply zone: $0.4000, $0.4500, $0.5000
Demand zone: $0.2500, $0.2000, $0.1500
The bulls are in control of stellar in the long-term. The bearish downtrend that was started on 29th April seems to come to an end on 28th May. Price was pushed down by the bears from the $0.4500 supply area down to the demand zone at $0.2500.
The bears' momentum seems to be exhausted as the bulls stage a comeback from this demand area. Their presence and pressure pushed price high up breaking the supply area at $0.3000. The bulls’ presence and pressure are most likely to increase in the market as the days go.
The break and close of price above the $0.3500 supply zone will be a further confirmation of the bulls’ takeover, and the may likely take price to the $0.4500 supply zone.
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