XLM is breaking out of a long descending channel on the weekly chart, showing the first signs of a trend reversal.
The SBS indicator flashed a Buy signal on this timeframe, adding strength to the setup.
Price is currently testing immediate resistance. A weekly close above this zone with substantial volume could confirm the breakout.
If confirmed, the next targets are:
Target 1: ~$0.38
Target 2: ~$0.47
Still early, but looks promising if we see continuation above the red zone.
Watch for breakout + volume = solid entry.
The SBS indicator flashed a Buy signal on this timeframe, adding strength to the setup.
Price is currently testing immediate resistance. A weekly close above this zone with substantial volume could confirm the breakout.
If confirmed, the next targets are:
Target 1: ~$0.38
Target 2: ~$0.47
Still early, but looks promising if we see continuation above the red zone.
Watch for breakout + volume = solid entry.
Trade active
Bought at the reset (red box)
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PayPal - paypal.me/vickyprudhvi
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Disclaimer
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.
Tip Jar
PayPal - paypal.me/vickyprudhvi
PayPal - paypal.me/vickyprudhvi
Related publications
Disclaimer
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.