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In this analysis, I want to review the XLM coin for you. It is one of the RWA projects with a market cap of $12.76 billion, currently ranked 13th on CoinMarketCap.
📅 Daily Timeframe
In the daily timeframe, this coin has reached a Maker Seller zone. So far, it has tested this zone twice and has been rejected both times.
🔍 In the second rejection, a lower high was formed, which shows weakness in the bearish trend. There is an important support level at 0.3629, and as long as the price remains above this level, the trend of this coin will stay bullish.
⚡️ If 0.3629 is broken, a deeper correction could extend to 0.3142. If the price continues to drop further, the main support of XLM will be around the 0.2244 zone.
✔️ However, if the price does not break below the 0.3629 level, I will try to open a long position with a breakout above the zone, because this level is very important, and its breakout could start a new bullish trend.
💥 The breakout trigger for this zone is currently at 0.4896, but in lower timeframes, we can find better triggers when the price reaches this level.
🔽 For a short position, we can open one if 0.3629 is broken, but for now, I will not open a short position, and if I take long positions, I prefer to do so on other coins instead of XLM.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I want to review the XLM coin for you. It is one of the RWA projects with a market cap of $12.76 billion, currently ranked 13th on CoinMarketCap.
📅 Daily Timeframe
In the daily timeframe, this coin has reached a Maker Seller zone. So far, it has tested this zone twice and has been rejected both times.
🔍 In the second rejection, a lower high was formed, which shows weakness in the bearish trend. There is an important support level at 0.3629, and as long as the price remains above this level, the trend of this coin will stay bullish.
⚡️ If 0.3629 is broken, a deeper correction could extend to 0.3142. If the price continues to drop further, the main support of XLM will be around the 0.2244 zone.
✔️ However, if the price does not break below the 0.3629 level, I will try to open a long position with a breakout above the zone, because this level is very important, and its breakout could start a new bullish trend.
💥 The breakout trigger for this zone is currently at 0.4896, but in lower timeframes, we can find better triggers when the price reaches this level.
🔽 For a short position, we can open one if 0.3629 is broken, but for now, I will not open a short position, and if I take long positions, I prefer to do so on other coins instead of XLM.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
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.