Hi friends! Welcome to this update analysis on Stellar! Looking at the four hour chart, you can see that XLM -0.75% has fallen from the uptrend channel that we discussed in my last post. The bulls appeared to be gaining some steam, after forming a new uptrend channel , but at the moment, the bottom of the channel is being broken. We can see that the 50 EMA (in orange) was lost, and price action is now falling toward the 200 EMA (in purple.) Looking at the MACD , we can see that sell-side momentum continues to expand to the downside, as the bears come out of hibernation. Ultimately, we can expect to see further downside. You can see that the 200 EMA and the 50% retrace are converging, which should strengthen that level as support. I would expect to see some sort of a reaction at that level. However, if XLM -0.75% blows straight through it, the bears will have snapped two support levels in one fell swoop, which would likely trigger even more selling. This failure is a testament to what I've been saying the whole time, but the bulls just don't want to hear it. Looking at the overall picture, you can see that we're in a huge formation, known as an ascending broadening wedge . This is a bearish formation, that typically results in a break to the downside. Don't believe me? Look it up. At the top of the wedge , you can see that there was a huge failed breakout, as price exploded to all time highs, then quickly dropped back into the wedge pattern. The overall picture, tells me that the biggest pattern (which is the wedge ) is trumping everything else. I have looked at the recent price action from the highs, and considered that we may be building an inverted head and shoulders pattern, but until conclusive evidence of that is available, I cannot side with the bulls.