Stellar Technical Analysis 22 November, 2021

• Stellar reversed from resistance area
• Likely to fall to support level 0.3120

Stellar cryptocurrency continues to fall after the earlier downward reversal from the resistance area lying between the resistance level 0.3515 (former support from the middle of November), 20-day moving average and the 50% Fibonacci correction of the downward impulse (i) from the start of this month. The downward reversal from this resistance area started the active minor impulse wave (iii).

Given the clear widespread deterioration of the risk sentiment seen across the cryptocurrency markets today, Stellar cryptocurrency can be expected to fall further toward the next support level 0.3120 (low of the earlier waves and (i)).

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