XLMUSD: Long term sell targets accomplished. Consolidation ahead

Both TP = 0.1802 and 0.1713 (July, June lows) got hit following the late November collapse of the whole market. As with most coins, the achievement of the last short targets marks the end of our shorting strategy on XLMUSD as we believe that the market is near a long term bottom zone. Traders who wish to keep trading Stellar Lumens can consult the 1W chart which is now a Channel Down (RSI = 40.059, MACD = -0.029, Highs/Lows = -0.0439) indicating that there may be a recurring pattern sequence within the Channel. This shows a 34 day consolidation at the end of which another -6.50% drop potential to 0.1277. We are personally waiting for a bottom to be formed before engaging again.



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