Stellar resistance zone
Stellar broke above the global correction angle line and held in a narrow zone below the resistance level 0.45.
Overall the pattern looks bullish, and it seems that the coin is gaining confidence to test the 0.45 resistance.
Nonetheless, falling volumes shows that traders are losing interest in the current price and maybe waiting for on more dip to buy lows.
For the last two days, traders are more concerned about Bitcoin grows and testing of the 10000.0 resistance, breaking of which could mean a lot for the investors.
Also, the 0.45 - 0.5 zone consist a lot of selling orders. Also, 50% Fibonacci lies in this zone. Hence, a breakthrough of the Resistance zone is required to confirm an uptrend scenario.
If bitcoin will not break the 10000.0 level and hold above - it is possible, that traders will go back into altcoins and push prices higher. Otherwise, I would expect a correctional move tot he 0.4 support.
Overall the pattern looks bullish, and it seems that the coin is gaining confidence to test the 0.45 resistance.
Nonetheless, falling volumes shows that traders are losing interest in the current price and maybe waiting for on more dip to buy lows.
For the last two days, traders are more concerned about Bitcoin grows and testing of the 10000.0 resistance, breaking of which could mean a lot for the investors.
Also, the 0.45 - 0.5 zone consist a lot of selling orders. Also, 50% Fibonacci lies in this zone. Hence, a breakthrough of the Resistance zone is required to confirm an uptrend scenario.
If bitcoin will not break the 10000.0 level and hold above - it is possible, that traders will go back into altcoins and push prices higher. Otherwise, I would expect a correctional move tot he 0.4 support.
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