Currently STRUSDT is holding at around 0.60. Look for a bounce to signal a bullish move, but a break down below support could mean trouble as there is not much to hold below 0.60.
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Looks like the floor didn’t hold. Staying clear for now.
@JulCan, 0.53 seems like weak support, but I am really interested to watch how it reacts. :)
JulCan
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@gthom9, If lumens go lower that is just fine because it is another oportunity to buy it at a cheaper price...
Inspirar
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@gthom9, Other than that being near the double bottom support area, what I see on the Poloniex Market Depth chart for STR is support from mid .50's and getting larger down to .50, the first wall, then a monster buy wall at .46. So that is HUGE support.
Then one thing to note that I find very VERY important for Stellar is the wall that goes off the chart around .25 nearly half way on the buy side of the screen (i.e. the entire left of that is green even hundreds of billions of dollars waiting to buy orders). Not even BTC or ETH have that heavy of buy orders in the wait. That suggests to me that a huge amount of interest and money is interested in Stellar. Of course that can change, but with a buy wall like that, I doubt it will change that much. I can't say I've ever seen a wall quite as big as that. Which to me is like seeing an army of Bulls waiting to run this thing up to the moon when the time is right. Just my thoughts at least.
gthom9
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@Inspirar, Great insight! I just checked and that is quite a buy wall of poloniex.
Inspirar
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@gthom9, That mega Buy Wall could be evidence to the many rumors (and even some small evidence) that IBM, Stellar Lumens and Wells Fargo have something happening this month. Wells Fargo is one of the largest US banks. IBM was already significant news several months ago. If anyone has any info on this possibility, feel free to share.
gthom9
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@Inspirar, wow! would also love to hear more info.
Inspirar
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It's just whale traders jumping in and out of our little crypto bathtub... That dip was just a buying opportunity for to me ;) Have you noticed all the new Monster Buy Walls growing in the Market Depth on Poloniex just since my post below 8 hours or so ago appearing between the 0.25 and 0.55, that haven't effected the already Monster Buy Wall running filling in half and off the Buy chart? I'm taking screenshots of the chart periodically and it looks to me like billions of "new" dollars setting up new buy orders. I can't help but wonder if it's getting ready for something HUGE. If anyone can find any other cryptocurrency market depth chart with anywhere near that size of green, please let me know, because I've been at this a while and I can't remember ever seeing anything like this.
gthom9
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@Inspirar, you are right, retook it’s floor quickly