XLMUSDT is recovering after a fairly aggressive decline, the purpose of which was to consolidate potential and retest trend support. The chart shows signs of a bullish movement...The growth of BTC and ETH and the decline in Bitcoin's dominance index give altcoins a chance. The market is generally bullish, and in the second half of this week, we encountered a correction that has most likely come to an end. XLM has a fairly strong support line, above which the bulls are aggressively holding the price.
XLM is rebounding from the upward support line. The price returned to the trading range of 0.4274 - 0.4685, but encountered strong resistance at 0.4331, a break of which will confirm the bullish market structure. An ascending triangle is forming with a trigger at 0.4331.
Support levels: 0.4273, 0.4194, 0.4114
Resistance levels: 0.4331, 0.4596, 0.4685
Within the local “ascending triangle” structure, the price may continue to consolidate. A retest of local support zones is possible. However, a smooth compression of the price towards resistance may lead to a breakout, which in turn, due to consolidation, may provoke a strong upward momentum.
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.