Coin: $XLM
Signal: Long
Pair: XLM/USDT Perpetual Contract
Current Price: $0.48425 (+4.6%)
Analysis:
The upward momentum in Stellar (XLM) has recently broken through a key resistance level, forming a bullish trend as it transitions from an ascending triangle pattern. The previous resistance level has now turned into a reliable support zone, reinforcing the bullish outlook for XLM.
Technical indicators, including Bollinger Bands (Bol), Volume Profile Analysis, and Exponential Moving Average (EMA) support, all suggest significant potential for further upward movement. The strong support at $0.465 and resistance near $0.48 mark a critical range. A bullish strategy involves entering near $0.465, with a target range between $0.48–$0.49. A stop-loss should be placed below $0.46 to manage risk.
Additionally, when we examine the broader market, we see a symmetrical triangle pattern in other assets, exhibiting similar bullish signals supported by the same indicators. This could signal an influx of capital into the broader crypto market.
Trade Setup:
Entry Point: $0.474 or market price
First Target Price (TP1): $0.513
Second Target Price (TP2): $0.600
A breakout above the $0.48 resistance would confirm a continuation of the bullish trend, with the potential for further gains. Stay informed and consider joining my Binance live stream for real-time professional trading support and guidance.
