XLMUSDT has recently broken out of two major bullish patterns:• Falling Wedge: The breakout above the descending resistance (orange) confirms the wedge setup, with a measured target around $0.70.
• Inverse Head & Shoulders: Breakout confirmed with a measured target around $0.40.
Key Levels to Watch
• $0.30 – 0.618 Fib level. IH&S neckline and current support. A break below it would invalidate the IH&S setup and potentially lead to a retest of the wedge's resistance as support.
• $0.36 – 0.5 Fib level and previous S/R.
• $0.40 – IH&S measured move target.
• $0.50 – 0.236 Fib level and previous resistance / swing high.
• $0.70 – Wedge measured move target.
Volume Analysis
Breakout volume is not as strong as expected, suggesting the need for further confirmation. A continuation with increasing volume would strengthen the bullish case.
Disclaimer
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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.