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.
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