Hi friends hope you are well and welcome to the new update on XLM:

Fake-out:
On a 4-hr time frame, a few hours back XLM was breaking out the down channel but in fact it was a fake-out. Because, after breaking out while re-testing the previous resistance of channel as support stellar has re-entered the same channel.

For more details you can watch the below video from my channel:

Long-term support zone:
Now there is a long-term support zone that starts from $0.18 and goes to $0.16. Right now priceline of Stellars is moving in this zone. This support area has been working as strong support and resistance since Mar 2018.

Huge wedge formation:

On the monthly time frame, there is a huge falling wedge has been formed. Previously in the same time frame, XLM broke out a big channel and started a big bull run. Therefore, after breaking out the current wedge we can expect the same move.

Conclusion:
In the short term, there is a sell-off, but in the long-term XLM has a huge potential to start a massive move.

Note: Above idea is for educational purpose only.