XLM/USDT - Possible Bullish W Pattern
Hello traders and community, today I will tell you shortly about situation of XLM/USDT
Trend analysis
- As you can see from the XLM/USDT daily chart, we are currently going upside and completing bullish W pattern (yellow line) as most of other cryptocurrencies. Price of Stellar is going to test resistance level (red price zone: 0,51886), that's why we can see good opportunity for bullish trend. Support level (green line) stays near price zone of 0,375 and global trend is bullish as well. As a trader, I recommend to close buy position up to price level of 0,51 and also compare my possible scenario (white line on the chart) with your own strategy to be prepared for different situation. Always control chart for right signals before you start trading!
Chart pattern
- Bullish W pattern formation (functioning)
Technical indicators
- RSI: market is still in boarders and is located near 50 level (not overheated, Bull signal)
- MACD: MAs are near 0 level + they are getting closer to each other (Bull signal prevail)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is going upward to the level of MA20 (Bull signal)
= Overall bull signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions in trading :)
P.S.: Information provided is only educational and should not be used to take action in the market.
Trend analysis
- As you can see from the XLM/USDT daily chart, we are currently going upside and completing bullish W pattern (yellow line) as most of other cryptocurrencies. Price of Stellar is going to test resistance level (red price zone: 0,51886), that's why we can see good opportunity for bullish trend. Support level (green line) stays near price zone of 0,375 and global trend is bullish as well. As a trader, I recommend to close buy position up to price level of 0,51 and also compare my possible scenario (white line on the chart) with your own strategy to be prepared for different situation. Always control chart for right signals before you start trading!
Chart pattern
- Bullish W pattern formation (functioning)
Technical indicators
- RSI: market is still in boarders and is located near 50 level (not overheated, Bull signal)
- MACD: MAs are near 0 level + they are getting closer to each other (Bull signal prevail)
- BB: Volatility of the market started stabilizing after volatile movement accomplished (Neutral signal)
- MA (10,20): MA10 is going upward to the level of MA20 (Bull signal)
= Overall bull signal movement
Dear friends, please push the like button, write comments below, follow me for more technical analysis and share this post with other traders - that would be the best support, Thank you for your attention!
Tell us about your opinion for making better decisions in trading :)
P.S.: Information provided is only educational and should not be used to take action in the market.
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