XLM/USD Long-term Trend: Bearish

Supply zone: $0.3500, $0.4000, $0.4500
Demand zone: $0.2000, $0.1500, $0.1000

The bears continue their dominance of stellar in the long-term. The $0.2500 demand area was broken as predicted in last week analysis and a fresh demand area at $0.2274 was attained by the bears. The bulls momentum currently is pushing price high, but this is forming a flag. Flags are pullbacks and indication for previous trend continuation.
We may see a massive sell-off coming this week as the flag will pave the way for the return of the bears to the market.

This week, Stellar open the week at $0.2305 compared to last week opening price $0.27714. This implies that more sellers are on the ground for a further push of price. The bears' target of $0.2000 may likely be attained as activities progress in the week.


The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research

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