Stellar XLMUSDT 4 Hour Chart Analysis Binance April 9,2023
XLMUSDTAs per the 4-hour chart, the pair is undergoing a correction within a descending wedge pattern. The price has rebounded from the support line, which implies that the bulls will now try to push the pair above the wedge. In case of a successful breakout, the pair could target $0.11 and eventually $0.12. However, if the price fails to hold the support line and falls below it, it could indicate an increase in selling pressure. Although there is a minor support at $0.10, a break below it could lead to a further decline toward the 200-SMA.
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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.