Oh Stellar
Stellar, what am I say. I am in a bind here. Oh how I love stellar, but I have to say this. So let's get down and dirty from a long term perspective.
At this point I will say I am staying away from stellar. Stellar is one of the best few coins that if I was day trading, is diamonds in the pocket. If we look at the weekly chart, we see that stellar is at the bottom of the bb line (bollinger band). From here, it should bounce right back up but it might not. It is already below the 0.27usd resistance zone. So now, it's all about the bounce up from the support zone. So where is it? It is at the 0.06usd mark. Wow, that's a long way to go down. From this point to the 0.06usd, there is no support zone and it will act as a free fall in the long term.
If we are to look at the monthly chart, stellar is sitting directly on the middle bb line. If it makes a correction sometime next week, then it will continue the accumulation and hopefully continue the trend from 2017 to May 2017. If it doesn't and fall below the middle bb line, it will fall to the 0.06usd mark. Either way you look at it, it will fall simply because it all depends on bitcoin. Don't forget, the global market (stock, forex, etc...) is also in a slump, especially the technology sector. This effects the global market.
Remember as always, this is not a signal to buy, sell or trade. DYOR.
At this point I will say I am staying away from stellar. Stellar is one of the best few coins that if I was day trading, is diamonds in the pocket. If we look at the weekly chart, we see that stellar is at the bottom of the bb line (bollinger band). From here, it should bounce right back up but it might not. It is already below the 0.27usd resistance zone. So now, it's all about the bounce up from the support zone. So where is it? It is at the 0.06usd mark. Wow, that's a long way to go down. From this point to the 0.06usd, there is no support zone and it will act as a free fall in the long term.
If we are to look at the monthly chart, stellar is sitting directly on the middle bb line. If it makes a correction sometime next week, then it will continue the accumulation and hopefully continue the trend from 2017 to May 2017. If it doesn't and fall below the middle bb line, it will fall to the 0.06usd mark. Either way you look at it, it will fall simply because it all depends on bitcoin. Don't forget, the global market (stock, forex, etc...) is also in a slump, especially the technology sector. This effects the global market.
Remember as always, this is not a signal to buy, sell or trade. DYOR.
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