As major BTC correction is still ongoing, most cryptos are following this course and XLM is no exception.
Stellar* formed well-established point 4 of the current Wolfe-wave which was backed by significant volume spike.
If the price continues its present descend, it is likely that it will re-test the indicated support level and form point 5 before resumption of the uptrend.
Stellar* formed well-established point 4 of the current Wolfe-wave which was backed by significant volume spike.
If the price continues its present descend, it is likely that it will re-test the indicated support level and form point 5 before resumption of the uptrend.
Note
Following bottom support test of the pattern, the price formed point 5 successfully.As BTC is being revived, XLM is on the way to the stellar stars once again)
Note
Despite current BTC downtrend, XLM managed to reach line 2-4.However, caution is highly advised as these gains may easily be dragged down by current global sell-off mood. Volume dynamics should be monitored carefully as it can provide a tip for further moves.
Note
Stellar successfully broke 2-4 and this strong up move is being confirmed by bullish volume spikes:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.