Stellar is fighting for stability after the freefall from highs of around $0.61. However, short-term analysis hints at the cryptocurrency being massively bearish. The rising wedge pattern could jeopardize immediate support at the 50 Simple Moving Average (SMA) daily chart.
XLM is trading at $0.41 amid the bulls’ push for gains toward $0.6. On the flip side, the recovery seems to be an uphill battle, especially when printing a rising wedge in the daily timeframe. This pattern occurs amid a generally up-trending market and is formed by two converging trendlines connecting a series of higher highs and consecutive higher lows.
https://www.fxstreet.com/cryptocurrencies/news/xlm-price-prediction-stellar-wriggles-at-the-edge-of-a-cliff-amid-massive-sell-signals-202103011022
However, the positive sign is that the bulls have successfully defended the 50-day SMA ($0.369) on Feb. 28. If the XLM/USD pair rises above the 20-day EMA, the bulls will make one more attempt to drive the price above the channel. If they succeed, the pair could rally to $0.50.
https://cointelegraph.com/news/price-analysis-1-3-btc-eth-ada-bnb-dot-xrp-ltc-link-xlm-bch
“$XLM is in a clear channel towards $1.00”
https://twitter.com/iholdbitcoin/status/1366432395398844416
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#XLM #StellarLumens #cryptocurrency
This is for entertainment. Not financial advice. You can lose your investment.
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