Stellar Lumens XLM Is Completing Another Bullish Reversal Move

Stellar Lumens XLM Is Completing Another Bullish Reversal Move

By moon333 | moon333 | 1 Feb 2021


 

Hey friends, hope you are well, and welcome to the new update on Stellar.

Breaking out the Descending triangle:

Previously we have seen that the price action had the strong support of 200 simple moving average and the support of triangle and using these supports the price action of XLM broke out the resistance of the triangle and formed a bull flag on the hourly and 4-hour chart.

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Retraced at golden ratio:

The price action retraced at 0.618 Fibonacci level that is the golden ratio and from here another bullish move can be expected. In the meanwhile, the price action also re-tested the exponential moving average of 21 on the two-day chart.

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Another Gartley move:

On the 12-hour chart, the price action formed another bullish Gartley move for the next rally:

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Conclusion:

The pricelne has re-tested EMA on the two-day chart and formed a harmonic move. Therefore from here, another move to the upside can be expected.

 

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moon333
moon333

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


moon333
moon333

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