Let's Talk About Scammy Forks
Stellar continues in bearish trend in the long-term outlook. The flag that was formed based on last week analysis was indeed an indication for downtrend continuation.
The sell-off did happen as predicted as the bearish pressure was strong and it broke the predicted $0.2000 bears target.
The bearish momentum was high as price was pushed further down to $0.1767 in the demand area.
Pullbacks are normal occurrences as market activities continue but these are necessary as they serve as a market correction for downward trend continuation.
This week, Stellar opened bearish at $0.2027 compared to last week opening price of $0.2320. This implies that more sellers are on the ground for a further push of price to the south. The bears' target of $0.1500 may likely be attained as activities progress in the week.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research
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Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.
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