Could This Bullish Break Take XLM to .95?!

2024년 12월 2일

Let's break down what I see on XLMUSD on the 4Hr Chart!

Based on the Rally from the Low @ .089 to the Multi-Year High @ .633, we can see Price fell into a Pennant Pattern, First making a Retracement to .425 or the 38.2% Fibonacci Level to find Support then found Support again at .505 or the 23.6% Fibonacci Level.

Price has given us a Break of the Falling Resistance and upon the opening of the 4H & 1H Candle, Retested the Break of Falling Resistance.

Now the Rally generated from the Low @ .229 to the High @ .633 was a ~ .40 or 175% increase.

-If Bulls are able to hold Price above the .50 - .54 area, that .40 movement or potential 74% increase in Price from the Point of Break could lead us to the Potential Target of .95!

2024년 12월 2일

액티브 트레이드

Here on the Daily we can see if Bullish Momentum stepped in, this would be a good Area of Support!

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