XLM - Lumens Breaking Out Beyond Resistance, Get Ready!Taking a look at the price action on the weekly timeframe, I've been noticing the bullish price action occurring over the past few months. The price has been primarily contained below the 800sat level since July 2019. Any breakouts beyond this level were only temporary and eventually were pushed back below this resistance level by sell-side pressure. However, not only has XLM broken out beyond this 800sat level, but it could be breaking out of a very large falling wedge pattern (which is more evident on the smaller time frames like the daily). Weekly MACD and OBV indicators turned very bullish and volume has been steadily rising since November of last year, which could indicate that a major move is about to happen.
With XRP on the sidelines as a result of the filing of the SEC Complaint, Lumens has the potential to position itself as a major player in the global financial market. For my portfolio, I will be making a long position here because I see a lot of upside at these levels.
