-Stellar coin is back inside the horizontal consolidation channel
-It is also trading at the midline support zone
-The middle area is a confluence of previous support and resistance
-If XLM can hold this level for at least 1-2 weeks
-There is a big chance it will try to retest the upper horizontal resistance
-Or even break higher to retest the...
XlM's Downtrend is slowly coming to an end as the Volalility increases
Currently with an extremely oversold RSI it opens opportunities for accumulation and possible bullish entries for a 2 month period
Within the following 2 weeks i assume a test of the Major trend resistance and more than likely a break into minor trend resistance
XLMUSD moving inside the uptrend channel. We touched the support line of the channel and start growing with volume.
Also, inside this channel, we can see the formation of an inverted head and shoulders.
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Obviously, it will break the channel to the downside and may reach the mentioned support.
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be...
SWING TRADING ANALYSIS
XLM in the bullish channel(red lines) right know, it can higher because the volume of accumulation is high in currently price, you can see it from the spike of volume profile
The decreasing of volume is a sign that it will pump in a days
The oscilator showed the price is currenctly low, that means it is oversold right know
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XLM is correcting and is close to a very important support level. It would be an excellent buy if it does a fake breakout.
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I posted about XLM before
Stellar had it's momentum, but was overshined by DEFI mania which soaked the money from it.
But XLM will be here to stay as one of most prominent high tier altcoins
This chart shows short term plan
Sell on 1 hour chart
Sell on 7h chart
Sell on 1 day chart (oversold)
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BTC should do a relief rally from the massive drop. It is possible that the alts rally more and if XLM breaks the resistances it should go to 1200sats in the short 1m-2m term.
Look for entry points upon bounce from support, immeidate resistance clearing and penetrating MAs on lower TM.
The green line represents the 200 moving average, and the white line represents the 50. I will be on the watch to see how the price moves above OR below these two major moving averages. Currently, the Bitcoin Dominance is breaking below the 60% range, and may go lower over the last few months of this year. Almost like it played out in late 2017. This is only my...