This Is Why Stellar Lumens XLM Should Be Your Top Pick During The Current Market Crash
Hey friends hope you are well, and welcome to the new update on Stellar coin.
Breaks down significant support:
On a weekly time frame, XLM is breaking down very significant support of $0.16. This $0.16 level has been working as strong support and resistance since Mar 2018. Now the next major
support will be at $0.12.
Broke down channel and H & S:
On a 4-hr time frame, XLM has broken down a down channel and a Head & Shoulder pattern as well. The target to the downside for H & S pattern was $0.15 and XLM has reached there.
XLM might test the support of big wedge:
On a monthly time frame, XLM is moving in a huge falling wedge pattern. Now after breaking down $0.16 support, it is possible that Stellar may retest the support of this wedge .
We should remember that previously when stellar broke out a huge channel we had around 1400% move and from the low to the high, that was about 3000% rally. Same is the previous move XLM can start another massive rally after breaking out this new falling wedge .
Conclusion:
Ona bigger time frames, stellar is moving in a falling wedge pattern, which is considered to be a bullish biased. Therefore, there is a high probability that after testing the support of
this wedge , XLM once again starts a long-term bull run.
▶️ 3Speak