Hi friends! I hope you're all doing well. Looking at the four hour chart for Stellar, we can see that after breaking support, at the top of the ascending broadening wedge (blue dashes,) XLM has dropped into a bear flag of some sort. Red volume has spiked on the chart, and sell-side momentum continues to increase on the MACD. More downside is likely, and and a possible target is the 200 EMA (in purple,) which currently corresponds with the 61.8% retrace. Look for prices to fall to $0.40. For the bulls to regain this market, they need to get prices back above the ascending broadening wedge.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-