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 infact 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.
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:
On 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.
Fake out:
On a 4-hr time frame, a few hours back XLM was breaking out the down channel but infact 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.
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:
On 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.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.