Stellar Technical Analysis 9 December, 2021

• Stellar reversed from resistance zone
• Likely to fall to support level 0.2540

Stellar cryptocurrency recently reversed down from the resistance zone located between the key resistance level 0.3040 (formers strong support from the end of November) and the 50% Fibonacci correction of the downward impulse from the start of December. The downward reversal from this resistance zone continues the active short-term impulse wave (iii) of the higher order impulse wave ©

Given the widespread risk off sentiment seen across the cryptocurrency markets today, Stellar cryptocurrency can be expected to fall further toward the next round support level 0.2540 (which has been reversing the price form July).

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