A recent bearish CH has formed on XLM, breaking the buyers’ stronghold and marking the first sign of strong sellers emerging in the market.
This bearish CH was formed after the price reacted to the marked supply zone, indicating that sell orders were efficiently distributed and providing evidence of genuine selling pressure.
Following a potential pullback to the upside, the expectation is for the price to continue moving toward lower levels.
Consider scaling into the position using a DCA approach at the entry zones marked on the chart.
At the first target, move your stop-loss to breakeven to protect your capital.
A daily candle close above the invalidation level will invalidate this analysis.
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