Stellar Lumens has been moving in a bearish trend since the summer of 2021, creating lower lows after periods of consolidation. Currently, the price is channeling in a horizontal range after breaking down from a descending triangle pattern early in 2022. The price now has once again arrived at the support level. For a bearish continuation, price needs to clearly break the support level of 0.1600. For a bullish reversal, price first needs to clear the resistance of the channel, which is 0.2400 level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.