MagicPoopCannon

Red Alert! Stellar (XLM) Breaking Support!

BITTREX:XLMUSD   Lumen / Dollar (calculated by TradingView)
Stellar             has broken support, on the top trendline of the ascending broadening wedge (blue dashes.) As I mentioned in my last post, this was likely to happen, because XLM             was testing it for too long. Look for further downside, with initial support at the 50% retracement level ($0.51.) It just became very possible, that we could see Stellar             fall to the 61.8% retracement level, which will soon be met by the 200 EMA (in purple.) A sharp reversal to the upside, on heavy volume , back above the broken support, and the 50 EMA (in orange,) is needed for the bulls to recover this market.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
What spell has been cast so that we are in a sea of bears ? After such a good rally, too bad.
I'm curious to see the outcome in the next week.
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Thanks for sharing
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