The Whole World Will Watch This Craziest Move Of Stellar Lumens XLM

The Whole World Will Watch This Craziest Move Of Stellar Lumens XLM

By moon333 | moon333 | 20 Jun 2021


 

Hi friends, hope you are well and welcome to the new update on XLM coin.

Breaking down the broadening formation and the SMAs.

On the 2-day chart, the price action of the Stellar coin was moving in the broadening formation since the 1st week of Jan 2021. In May 2021 the candlesticks of the Lumens broke down the support and also broke down the 2-day 100 simple moving average as well. Now the price action of Stellar is at the strong support of 200 SMA.

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Volume profile and the $0.28 support.

After placing the volume profile on the complete price action from the month of Jan up till now. It can be observed that there was a strong interest of the traders even below the support of this pattern and we have the weak interest of the traders near to the resistance of the broadening formation. Therefore the price action followed this signal and broke down the support. Now the price action is moved very close to the level where we have less interest of the traders and there is a possibility that from this area a bullish divergence can be triggered.

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Reached strong support:

The price action of the XLM has also reached the strong support of $0.28. Previously this level has been working as strong support and resistance as well. Therefore, if the priceline of Stellar manages to move up from this support then it can try to break out the previous support of the broadening formation which can now work as a resistance. Once the XLM will be re-entered in the broadening formation then there will be a strong possibility to form a new higher high that can be at least $1.

vGX9Vysb.png

 

The bullish harmonic moves:

The price action of one of the leading cryptocurrency (XLM) has formed a bullish Shark on the 4-day chart and also has nice support of 50 simple moving average in the potential reversal zone.XLMUSDT: Stellar (XLM) formed another Shark for bullish reversal move

 

 

But on the bigger picture on the two-week chart, it has also formed a big bullish Cypher pattern as well.

XLMUSDT: Stellar (XLM) formed big bullish Cypher for upto 200% big move

 

 

 

Buy and sell targets:
Buy between: $0.3474 to $0.2248

Sell between: $0.4439 to $0.6757

Stop loss:
The maximum extent of potential reversal zone $0.2248 can be used as stop loss.

Possible profit and loss ratio:
As per the above targets, this trade has a big profit possibility of 200%, and the high loss possibility is 36%, however at this time the risk is low as the price action is already close to the end of the buying zone.

 

Conclusion:

The price action of XLM faced an extreme sell-off and broke down the supports of the pattern and moving averages as well. But it has moved at a strong price level support and formed big bullish reversal patterns. Therefore, in the log-term we can expect a massive move soon.

Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.

 

 

For more harmonic trading ideas you can join:

https://www.patreon.com/moon333

 

Link for Binance exchange, the best place to buy or sell Crypto:

https://www.binance.com/?ref=11256882

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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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