Stellar - Interesting Market With Big Potential

The market bounced from the bottom at 0.074 level and started developing a new uptrend. When the price broke the local downtrend line and moved above SMA100, the bearish trend reversal was confirmed. We also could get an additional confirmation that the market became bullish when the market had formed new higher highs and higher lows. The market started the bullish trend.

The market moved upward and the price reached one more resistance zone. This resistance is strong as it is formed by the main downtrend line and SMA200. The price bounced from this zone and we could see the falling to the lower support zone formed by the local uptrend line and SMA50.

The price reversal from this zone will be able to give buy opportunities. If the price breaks this support, the next one will be at 0.100000 level, SMA100, and the main uptrend line. The price reversal in this zone also will be good for buying based on different timeframes.

Long positions also can be opened based on a breakout above the downtrend line and SMA200.

Do you like this coin? What do you think about the market movements in long run? Share your thoughts, ideas in comments below this post. Let's discuss!

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