Is #XLM Ready For another Bullish Push or Not? Key Levels

3 days ago

Yello, Paradisers! Is #XLMUSDT about to surge to new heights or are we on the verge of a deeper correction? Let’s analyze this critical setup of #Stellar:

💎#XLM has been forming a classic falling wedge pattern on the 8-hour chart, a formation known for its bullish breakout potential. Price is currently testing the descending resistance, and this is where things could get exciting. A clean breakout above this resistance would signal a major shift in momentum and open the door for a significant move higher.

💎When #XLMUSD clears the descending resistance of the falling wedge, the immediate resistance lies at the $0.45 level. This critical level needs to be cleared for XLM to confirm its bullish breakout. If bulls succeed, the next target lies in the major resistance zone near 0.6500, representing a potential 40%+ upside. Look for strong volume and convincing bullish candles above the resistance to confirm market conviction. Without these signals, any upward movement could turn out to be a fakeout.

💎However, if #XLM fails to clear the descending resistance then it might come to retest the support zone at $0.32. Buyers have held this level and the probability of jumping here is quite high. But if this level also doesn't hold, there will be a retest of the demand zone at $0.24.

💎However, a daily close below $0.24 would invalidate the bullish setup and potentially lead to a sharper drop toward 0.2000 or lower.

Stay focused, patient, and disciplined, Paradisers🥂

MyCryptoParadise
iFeel the success🌴