Stellar (XLM) made an incredible 25% gain today. However, the price has quickly retraced back towards the downtrend resistance. Whether Stellar (XLM) closes the weekly candle below or above the downtrend resistance today will decide Stellar (XLM)’s direction for the weeks to come. At this point, it does seem reasonable to assume that the downtrend is indeed over. Wave trend analysis for the above weekly XLM/USD chart shows that a new trend has begun.
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