- Stellar Lumens (XLM) proves impervious to bearish trends, trading tantalizingly close to $0.13.
- Double-bottom reversal and 0.618 Fibonacci support suggest XLM’s price rally is no fluke.
- Despite a brief hiccup, the breakout structures hint at a potential 24% jump to $0.19 resistance.
In an erratic market plagued by bearish sentiment, Stellar Lumens (XLM) emerges as an epitome of defiance. Currently trading a whisker below the $0.125 threshold, the cryptocurrency appears unperturbed by its intraday dip of 2.9%.
Read CRYPTONEWSLAND on
google news
A deep dive into its recent price movement reveals a double-bottom reversal pattern, firmly anchored at the 0.618 Fibonacci level, precisely at the robust $0.10 support.
Source: TradingView
Over the last fortnight, XLM has exhibited a laudable 14% ascent within a mere 10-day span. This leap wasn’t just a fluke; it shattered the $0.12 resistance, teasing us with the tantalizing prospect of reaching the $0.13 mark. However, the presence of an optimistic pattern somewhat muddies the waters, casting a fleeting shadow over its bullish narrative.
Nevertheless, XLM stands at a crucial juncture. Current structures suggest that a bullish continuation, targeting over 20% surge to the $0.19 overhead resistance, is plausible. Thus, Stellar Lumens offers not just a ray but a beacon of hope in a market that desperately needs it.
Defying bearish market sentiments, Stellar Lumens showcases promising technical indicators and bullish trends, eyeing a potential leap to over $0.20.
Read also:
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
