XLM: Pullback in Uptrend

BINANCE:XLMUSDT   Stellar / TetherUS
Stellar (XLM) technical analysis:

Trade setup: Following a breakout from a Falling Wedge pattern, price spiked up to $0.19 where it got very overbought (RSI > 75) and traders took profits (selling pressure). Now it’s pulled back to support of $0.12, which could be a swing entry level. Fibonacci retracement levels are $0.12 (78.6%) and $0.13 (61.80%).

Trend: Neutral on Medium-Term basis and Uptrend on Short- and Long-Term basis.

Momentum is Bullish (MACD Line is above MACD Signal Line and RSI is above 55).

Support and Resistance: Nearest Support Zone is $0.12, then $0.10. The nearest Resistance Zone is $0.13, then $0.19.


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