Stellar seeks out previous low

Price tested the 61.8% Fibonacci resistance level a couple of times and was held off by selling interest. This line became a key area of selling interest, and should remain strong going forward. now becomes critical resistance moving forward.

Momentum for trend is starting to kick in gear for the bears. The Average Directional Index ( ADX ) line is increasing at the same time the red negative directional index is staying elevated. The bears started to take control right at the time the dotted trend line was busted to the downside. Internal strength for a bearish trend has continued to increase since.

The price move below the 61.8% Fibonacci level has made the golden ratio critical resistance going forward. This move sets up a full retracement target to the previous low before strong long-term buying is likely to return. Also, the trend line break objective, marked with arrows, matches up nicely with the full retracement level. This creates a spot where buyers are likely to set up camp to build a new long-term floor in the market.

Staying on the sidelines for now waiting for the previous low area to hit.

Critical Resistance: $0.2404
Key Resistance: $0.2130

Key Support: $0.1802
Critical Support: $0.1710
We have an identical perspective, aiming for 0.1713 on this new 4H Channel Down:

CryptoMarket360 InvestingScope
@InvestingScope, so you are saying great minds think a like :)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out