Stellar Lumens XLM Dumped Once Again But Still Has Big Potential To Make More Millionaires

By moon333 | moon333 | 6 May 2022


Hi friends hope you are well and welcome to the new update on XLM:

Fake-out:
On a 4-hr time frame, a few hours back XLM was breaking out the down channel but in fact it was a fake-out. Because, after breaking out while re-testing the previous resistance of channel as support stellar has re-entered the same channel.

snapshot

 

 

For more details you can watch the below video from my channel:

 


Long-term support zone:
Now there is a long-term support zone that starts from $0.18 and goes to $0.16. Right now priceline of Stellars is moving in this zone. This support area has been working as strong support and resistance since Mar 2018.

snapshot


Huge wedge formation:

On the monthly time frame, there is a huge falling wedge has been formed. Previously in the same time frame, XLM broke out a big channel and started a big bull run. Therefore, after breaking out the current wedge we can expect the same move.

snapshot


Conclusion:
In the short term, there is a sell-off, but in the long-term XLM has a huge potential to start a massive move.

Note: Above idea is for educational purpose only.

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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