The price started to trade under 9 MA.
It doesn't indicate bearish trend but it may be point of taking this what's on the table if traded from the previous pullback.
As one of the scenarios, ascending channel no.2 could be created, if the asset keep rising.
Following breakout of the three rising valleys (3RV) pattern on 10th February, the target price is now $0.69 with a volatility stop loss of $0.30.
Potential gains of 73%.
Best of luck with your trading and thanks for checking this forecast out.
Following the pattern of the previous move within this channel, XLM may retest the 44000 support again in the short term to recharge it batteries before moving back to discovery mode. Still very bullish in the longer term however.
XLM has really underperformed compared to so many other coins out there. I think XLM will have its day once everybody has filled...
If the BTC is about to build bullish flag before upward trend continuation, this scenario could play out for XLM.
Just my thoughts,
based on analyse of behaviour in previous consolidation stage.
Over the 1hr, 2hr, 4hr and 1d chart XLM has continued to bounce between the areas graphed forming a bullish pendant. The volume on the 1d and 2 hour have been increasing over the past day. Hopefully we can all take off on the next flight. However, there is always a chance that it breaks down. Be-careful and have fun.
Not financial advice :)
stellar lumans is a well known crypto sister of ripple working with likes of BOE there is some strong potential behind this
my idea has started to play out already forgot to post last night
the break out of the bullish trendline can leave a retest of structure points at the start of the bullish channel that took the move up
levels to watch on the down side...
It seems to me that at this point XLM as well as the other alts are stuck waiting for BTC either breaking out or being rejected.
I have adjusted the bottom trend line to the new bottom as I think it's now more accurate and in line with previous bottoms.
I also feel this could be seen as a massive bullish pennant, however I have avoided counting the peaks that...