Hi friends, and welcome to the new update on Stellar.
Big wedge and key support:
On a weekly time frame, XLM has bounced from the key support of $0.12 and the support of a big falling wedge pattern. This move can also be seen on a monthly time frame.
After breaking out this wedge the next move can be up to $0.75, which is the top of this wedge. Before this XLM had already broken out a big channel as well.
Symmetrical triangle and external supports:
On a 4-hr time frame, Stellar has broken down a symmetrical triangle. But it has still a down trendline support and the previous triangle's support is also still in play. Therefore,
there is a probability, that XLM will breakout the resistance of the triangle using these supports. After the breakout XLM can also break out the next resistance of $0.154.
Conclusion:
Even though Stellar has broken down the triangle but some external supports are in play therefore, there is a possibility that stellar will breakout the same triangle which is broken down.
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You can also support my work at Patreon for more ideas:
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To check the Patreon trade success testimony, you can watch this pinned post:
https://www.patreon.com/posts/63774800
In order to play and watch the current performance of the chart you need at least a free account on tradingview:
https://www.tradingview.com/gopro/?share_your_love=moon333
KuCoin is one of the best exchange to find crypto gems:
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Link for Binance exchange, to trade crypto:
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Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.