Stellar (XLM) Analysis 7/20 XLM-USD

The target price of $0.15 for Stellar (XLM /USD) was just missed. At $0.17 was over and the final wave C-low was formed. This corresponds to a typical flat pattern as indicated in the previous analysis. The chart technician would say double bottom if he looks at the two big lows of the chart.

It can currently be assumed that the correction can now be completed and a counter-movement will follow. The downward trend was broken impressively and under high, rising volumes.

A fierce price action doubled the price from the low in a very short time and catapulted it up to just under $0.33. Not bad, in such a miserable crypto-market environment.

What I particularly like is the increasing volume of this rallye. That's what traders want to see. ;-)

The recently overcome resistance in the range of $0.22 - $0.21 is now a support. If possible, this region should not be left downwards. Then there is a good chance for further follow-up purchases and further rising prices.

This is NOT investment advice and does not require buying or selling. Every reader is aware of this and makes their own investment decision with their own understanding of risk management!

Cheers Jessy