Rising wedge meets cup and handle
The rising wedge channel formation XLM has been making nicely closes near the top of the previous rally, which, assuming it dips there, would create a perfect setup for a cup and handle with a target to high 5k territory.
It's also been holding up decently in the recent bear market, has some catalysts coming up, and has respected hourly supports but broken hourly resistance. Daily SAR remains supportive as well.
It's risky to enter here though, it could fall back down to the low 4k territory from here and keep the cup and handle intact.
It's also been holding up decently in the recent bear market, has some catalysts coming up, and has respected hourly supports but broken hourly resistance. Daily SAR remains supportive as well.
It's risky to enter here though, it could fall back down to the low 4k territory from here and keep the cup and handle intact.
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