This Is Why Stellar Lumens XLM Should Be Your Top Pick During The Current Market Crash

By moon333 | moon333 | 9 May 2022


 

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


Breaks down significant support:
On a weekly time frame, XLM is breaking down very significant support of $0.16. This $0.16 level has been working as strong support and resistance since Mar 2018. Now the next major
support will be at $0.12.

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Broke down channel and H & S:

On a 4-hr time frame, XLM has broken down a down channel and a Head & Shoulder pattern as well. The target to the downside for H & S pattern was $0.15 and XLM has reached there.

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XLM might test the support of big wedge:

On a monthly time frame, XLM is moving in a huge falling wedge pattern. Now after breaking down $0.16 support, it is possible that Stellar may retest the support of this wedge .


We should remember that previously when stellar broke out a huge channel we had around 1400% move and from the low to the high, that was about 3000% rally. Same is the previous move XLM can start another massive rally after breaking out this new falling wedge .

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Conclusion:
Ona bigger time frames, stellar is moving in a falling wedge pattern, which is considered to be a bullish biased. Therefore, there is a high probability that after testing the support of
this wedge , XLM once again starts a long-term bull run.

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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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