XLMUSD is on the third straight green 1W candle after the massive one that broke over the 1W MA200 for the first time in more than a year. However it closed the 1W candle under it, and so did last week's. Naturally, the uptrend needs a 1W candle to close over the 1W MA200 in order to confirm more upside.
The 1D timeframe is on healthy 1D technicals but 1W is overbought (RSI = 73.412, MACD = 0.010, ADX = 20.860) so failure to close above it, can deliver a pullback towards the 1D MA50 for one final buy entry.
Based on the price as well as the RSI pattern, the current trading sequence is comparable to the July-August 2020 1W MA200 tests. That gave the pullback but after it crossed over, the first target was the 0.618 Fibonacci level. That's now at 0.3200.
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