ANALYSIS 🔎
- XLMUPUSDT has been ranging since December 2020.
- The market is testing the ATL support.
- The downtrend to the support was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance and retraced
- Price action is printing a falling wedge (FW) pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- ATH (All-Time High) resistance.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
- This breakdown will probably lead to the retest of the ATL support.
- Which if it holds, will lead to the formation of the double bottom bullish reversal pattern.
- XLMUPUSDT has been ranging since December 2020.
- The market is testing the ATL support.
- The downtrend to the support was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance and retraced
- Price action is printing a falling wedge (FW) pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- ATH (All-Time High) resistance.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
- This breakdown will probably lead to the retest of the ATL support.
- Which if it holds, will lead to the formation of the double bottom bullish reversal pattern.