Stellar: Answer the Q whether HODLing is still the way to go

ambcrypto.com:

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice

At the time of writing, Stellar (XLM) was sailing below the lower boundary of its Pitchfork after the latest bearish engulfing candlestick on its daily chart. The latest selling spree has set up a bearish structure for XLM.

Any close below the current pattern could spiral into further losses by paving a pathway towards the $0.12-zone. At press time, XLM was trading at $0.1283.

Source: TradingView, XLM/USD

Since XLM flipped towards the south from the $0.4-zone, the bears found renewed pressure to pull the alt and test the $0.16-mark (previous support). After a liquidation streak, the recent bearish phase saw a drawdown from this mark after an over 45% weekly decline towards its 17-month low on 12 May.

With the current structure exhibiting bearishness, the bulls need to make extraordinary efforts to halt the ongoing selling momentum. For this, they still need to propel high buying volumes. The current bearish pennant setup could play spoilsport for recent buying endeavours.

Any close below the pattern could lead to a near-term pullback towards the $0.12-baseline. Post which, the bulls would be keen to bridge the overextended gap between the 20 EMA (red) and the 50 EMA (cyan). In this case, a close above the Pitchfork would reignite the possibilities for any recovery. 

Source: TradingView, XLM/USD

The RSI underlined a visible selling edge while compressing in the 36-41 range. The investors/traders must watch out for a break beyond the current bounds to enter either buy/sell calls.

Over the last four days, the bearish CMF marked lower peaks on the daily timeframe. But, any bounce-back from the