$XLM is facing a strong resistance area created by Fibonacci 0.5 level and the Mirror level at 0.14. Bearish trend is likely to continue and reach the support at 0.1$
What is Stellar?
The open source decentralized protocol Stellar (XLM) makes it possible to transfer cryptocurrencies to fiat and vice versa. In order to, in other words, allow easy, instant and secure cross-border transactions between any pair of currencies. The development of this protocol is supported by a non-profit organization called the Stellar Development...
After the three-wave correction, there were signs of the formation of an impulse continuing the bearish trend
Targets:
1st - 0.1485-0.1475
2nd -0.1330-0.1320
3rd - 0.11-0.1080
The price is creating a descending channel on the daily timeframe after a retest on the monthly support on 0.16$.
on the 4h timeframe the price grabs new liquidity from the 4h support and now it's trying again to have a new breakout from the daily resistance.
How to approach?
IF the price is going to have a breakout from the daily resistance, According to...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.1995).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XLMUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic...
Past Performance of Stellar Lumens
Stellar Lumens is up 30 percent from last week's lows. Currently, XLM is stable in the past 24 hours and down double digits versus the USDT in the past trading week. Generally, the coin remains under pressure and within a bear breakout formation below Q1 2022 lows.
#Stellar Lumens Technical Analysis
The XLM coin is changing...
Risk warning, disclaimer: the above is a personal market judgment based on published information and historical chart data on Tradingview, all analysis is only subjective. Hope investors consider, that I am not responsible for your investment decision.
Thank you.
Good luck
Past Performance of Stellar Lumens
Steep losses in April pushed Stellar Lumens prices back to Q1 2022 lows as aggressive XL sellers reversed gains posted in March 2022. Currently, XLM has support, but sellers are still in control until there are conclusive reversal patterns confirming bulls. XLM is stable in the previous trading day versus the USDT, dumping...
xlm harmonic pattern target 0.2320 on 4h chart. Of course if btc lets.
Note: this is just an amateur work for practice. Do not take it as a financial advice. Do your own research please.
I think XLM has some good potential for a rise, even though hasn't been in a SL hunt yet and that is the only problem with this idea.
Nonetheless, we are seeing a squeeze in the price(fight) between support and resistance. IF a break to the upward happened, I will enter a long trade according to my idea. SL will be determined upon entry.
I'm placing a LONG on XLM if I see a 1D close above the daily resistance
the price has succesfully retested the 4h support level and is now heading for the next resistance: if it is broken we can look for the following one to be tested
entry around 0.25
TP 0.29
SL 0.23
(prices are estimates)
When the market creates a daily structure candle we can expect the market to test this candle (blue bloxed). We do need to wait untill all the checkboxes are checked and the circumchances are in our favor. So let's wait for that before we take this trade back to the 0.196 region
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.1995).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XLMUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
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