XLM/USDT Stellar technical analysis !!! Current technical analysis on XLM/USDT better known as Stellar, it has broken out of a clean triangle around 5 days ago and is on the rise! With the current situation it will test market at its current resistance and choose whether to test positive and go with my scenario of that outcome or go negative and express my other scenario which also has an amazing optimal buy zone at the bottom of the channel, but in my opinion i think it will test positive due to the current market situation and BTC being on the rise.
Red line = (0.2) current strong support
Yellow line = (0.24) current test market zone and strong resistance meaning if it tests negative it will pummel down to (1.8) which is a good optimal buy zone, however with the positive test market scenario it will go up to around the (0.3-0.31) range and if it breaks it will go up to 0.35 however be careful at that price since that is a very strong previous resistance and it may give a negative response to the test market!!!
Orange line = Future extremely strong resistance and one of the optimal selling points
Green line = Future strong resistance if breaks orange line and you are still holding would sell of there to secure a beautiful profit however if BTC starts to rise and go bullish again it may break it and reach top of the channel it should be your call whether you would hold past the point or sell (personally i would cash out to minimize risk
If you have any questions or anything else to add to my analysis such as some criticism that would be greatly appreciated just drop a comment and i will answer every single one asap, and let me know what other crypto, or stock graphs you would like me to analyse anything but commodities since its a pain in the ass. :D
BINANCE:XLMUSDT
