Stellar is ready to pull back?!
~We have failed to break the resistance after a breakout again, having tested it MANY times now, 5K+ is proving incredibly hard to maintain without being overbought then crashing down again. Saying that I think each recent breakout is bringing more momentum and soon the 5K will be the new support, however for now we are rebounding off the resistance and back into a small downtrend. Also to note the FairX announcement of April/May, could have some weak hands selling.
~After a sharp move upwards we could be back into a downtrend for the time being until the common buy zones (the fib retracement lines) are reached and buying begins to pick up.
~I'm not a massive fan of looking at historical trends as there are alot of other factors, but abstracting it into a 4H TF, after we have an overbought lumens we genuinely enter a downwards trend for a time being.
I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable.
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