The strong bearish candle that broke down the demand levels of $0.25 and $0.23 and closed below the dynamic support and resistance is an indication that downtrend movements in Stellar price may continue.
Should the bears continue with their increased momentum the Stellar price would break the demand level of $0.23 and expose to the demand level of $0.22.
Stellar price may break the demand level of $0.23, the downtrend movement will be experienced and it will be exposed to the demand level of $0.20
The price broke the demand level of $0.24 and the downtrend movement was experienced and this exposed it to another demand level of $0.21.
Should the price break the demand level of $0.24 the downtrend movement will be experienced and this will expose it to another demand level of $0.21.
The Bulls increased their momentum by the formation of bullish engulfing candle followed with the massive strong bullish candles; broke both supply levels of $0.21 and $0.24.
XLM is ranging within the supply level of $0.21 of the upper range and the demand level of $0.18 of the lower range, the price may break out from the channel that will lead to decreases in the rates.
Should the price break and close above the supply level of $0.30, would interrupt the current bearish phase.
The price is still in a valid bearish phase as long as it stays within the resistance level of $0.24 and the support level of $0.19. In the near future, we may expect price break out from the channel that will lead to increases in the rates.
The cryptocurrency made some faint bullish effort that was often followed by consolidation in the market and that led to the formation of “falling wedge” pattern; this may lead to increases in the rate.