🌟 #XLM Ready for takeoff? The inverted head and shoulders pattern points to 1 dollar!🚀
Stellar XLM has been quietly making moves on the 12-hour chart recently—forming a classic inverted head and shoulders pattern! The left shoulder appeared at the beginning of the year, the head at the low in April-May, and the right shoulder has been slowly taking shape since August, with the neckline around 0.50 dollars.
The current price is around 0.38 dollars, above the 0.618 Fibonacci retracement level of 0.36 dollars. Once it breaks through 0.50 dollars, it may short-term rally towards potential resistances at 0.62, 0.70, 0.83, or even 0.95 dollars. The ultimate target? Close to 1 dollar!💰
However, don't forget that if the breakout fails, support is at 0.36, 0.33, and 0.30 dollars; be cautious of a pullback⚠️
In the short term, bullish signals have also emerged! The SuperTrend indicator on the 4-hour chart turned bullish for the first time since August 25, showing a buy signal after breaking 0.372 dollars. Staying above 0.37 dollars, it may first touch 0.38-0.39 dollars, but if it drops below 0.365, caution is advised.
The funding situation also gives some signals—up to September 10, the net inflow into XLM spot exchanges was 874.71 thousand dollars, indicating that more people are depositing coins rather than withdrawing them. However, compared to the previous peak of 20 million dollars, this inflow of funds is still moderate and may just be a routine position adjustment💹
Overall, the XLM technical indicators + super trend + net inflow signals lean towards bullish📈 If the neckline breakout is successful, the story of rallying towards 1 dollar will no longer be a dream!
