a fierce battle between the bears and bullsIn the Stellar price market, there seems to be a fierce battle between the bears and bulls. As a result, the price has been consolidating for an extended period of time, indicating uncertainty and indecisiveness among investors.
However, during the period from February to mid-March, the bulls were able to gain a slight advantage and pushed the price upwards from $0.10700 to $0.16000. Unfortunately, this upward momentum was short-lived as the price started to deteriorate again at the supply price level.
This is evident from the price chart that shows a lower low structure, indicating that the bears are back in control and pushing the price down once again in the short term and sideways in the longer-trend analysis.
Therefore, if the Stellar price manages to break out aggressively in any direction by breaking the sideways range in a longer trend, will assist the price in choosing the direction.
There are two possible scenarios that can be observed on the price chart. The first scenario is that if the price fails to hold above $0.10700, then the price may decrease further. On the other hand, the second scenario is that if the price manages to surpass the level of $0.16000, then it will create opportunities for higher price levels.
