Hey friends, hope you are well and welcome to the new update on Stellar
XLM broke down the wedge:
On the weekly time frame, has broken down a big but the positive thing is that the stochastic has entered the oversold zone which is indicating that the market of Stellar is oversold now.
Another support:
On the daily time frame the has found nice support at $0.255 and also likely to form a double bottom on this support.
Formation of a channel and triangle:
On daily time frame the priceline has formed a down channel and after some accumulation Stellar has also formed a descending triangle as well. The movement is squeezed, therefore, soon the priceline can break this triangle.s
Don't forget to upvote/tip and share the post, thanks
You can also support my work at Patreon for more ideas:
https://www.patreon.com/moon333
In order to play and watch the current performance of the chart you need at least a free account on tradingview:
https://www.tradingview.com/gopro/?share_your_love=moon333
KuCoin is one of the best exchange to find crypto gems:
https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3
Link for BINANCE exchange, to trade crypto:
https://www.binance.com/?ref=11256882
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
