Hi, my fellow friends! Here I'm again bringing the power of Technical Analysis to the crypto community. Today we will see what possibilities surround BINANCE:XLMETH.
As you can see in the chart, Stellar has broken a strong resistance in 0.00044579(red), and breakout a formed ascending triangle(white), since then it has been doing a great work. You can see a bearish crossover(yellow) close to [April 2] in the MACD, followed by a bear flag(orange). Generally, is very normal to see bearish crossovers in a bull flag consolidations, and it has been proved true.
The 20 EMA (blue) continue leading the trend and you can see a crossing line between 50 EMA(red) and 20 EMA(blue) [April 14] which is a good signal, the chart shows that the candles still inside an uptrend channel(blue). The candle breakout the last resistance in 0.00059720(red) which put us on a rally again, but we know that could become a support in a blink of an eye.
With that said, we should expect a little bit to take risks now. Maybe a stop-loss and a possible answer of the market. But stay nimble, because it can change faster than ever.
Always remember, I'm like everyone here who is trying to improve my views on Charts and patterns, never take this as a financial advise because you are on your own.