.png?#)
Stellar (XLM) Price Breakout from Falling Wedge Pushes to Key Resistance
The post Stellar (XLM) Price Breakout from Falling Wedge Pushes to Key Resistance appeared on BitcoinEthereumNews.com. Stellar (XLM) is demonstrating a potential bullish reversal after breaking out from a falling wedge pattern, a technical signal often indicating a shift from bearish to bullish momentum. In a recent X post, crypto commentator Alpha Crypto Signal highlighted this key development, noting that the asset’s price has rallied impressively from lows and now faces a critical horizontal resistance zone. Currently trading near $0.4527, XLM is testing the resistance range between $0.455 and $0.460, a crucial level for confirming the strength of its breakout. Stellar Price Faces Resistance The 4-hour chart for XLM/TetherUS confirms the breakout from the falling wedge pattern that had contained price declines, signaling that the prolonged downward trend may be ending. This breakout places the cryptocurrency in a position to challenge a horizontal resistance zone that has acted as both support and resistance previously. The analyst stresses that a clean breakout above $0.460, followed by sustained holding, is essential for continuing upward momentum. Source: X If this resistance hold fails, the post identifies two important support zones that could maintain the bullish structure. The first support is the dynamic 9-period Exponential Moving Average (EMA 9) around $0.446, which offers short-term buying interest. The second significant support level is the 50-period Simple Moving Average (SMA 50) at roughly $0.420, which would be critical to prevent a deeper decline and preserve the integrity of the breakout. Market Volatility and Trading Volume Trends Additionally, BraveNewCoin’s 24-hour price and volume for this cryptocurrency show notable volatility, with the price fluctuating between approximately $0.315 and $0.455 during recent sessions. Despite a late-night rally to around $0.455, the asset corrected downward to $0.44, marking a 0.61% decline over the period. This price action reflects an actively traded market with rapid sentiment changes. Source: BraveNewCoin Trading volume remains substantial at about $375 million…
The post Stellar (XLM) Price Breakout from Falling Wedge Pushes to Key Resistance appeared on BitcoinEthereumNews.com.
Stellar (XLM) is demonstrating a potential bullish reversal after breaking out from a falling wedge pattern, a technical signal often indicating a shift from bearish to bullish momentum. In a recent X post, crypto commentator Alpha Crypto Signal highlighted this key development, noting that the asset’s price has rallied impressively from lows and now faces a critical horizontal resistance zone. Currently trading near $0.4527, XLM is testing the resistance range between $0.455 and $0.460, a crucial level for confirming the strength of its breakout. Stellar Price Faces Resistance The 4-hour chart for XLM/TetherUS confirms the breakout from the falling wedge pattern that had contained price declines, signaling that the prolonged downward trend may be ending. This breakout places the cryptocurrency in a position to challenge a horizontal resistance zone that has acted as both support and resistance previously. The analyst stresses that a clean breakout above $0.460, followed by sustained holding, is essential for continuing upward momentum. Source: X If this resistance hold fails, the post identifies two important support zones that could maintain the bullish structure. The first support is the dynamic 9-period Exponential Moving Average (EMA 9) around $0.446, which offers short-term buying interest. The second significant support level is the 50-period Simple Moving Average (SMA 50) at roughly $0.420, which would be critical to prevent a deeper decline and preserve the integrity of the breakout. Market Volatility and Trading Volume Trends Additionally, BraveNewCoin’s 24-hour price and volume for this cryptocurrency show notable volatility, with the price fluctuating between approximately $0.315 and $0.455 during recent sessions. Despite a late-night rally to around $0.455, the asset corrected downward to $0.44, marking a 0.61% decline over the period. This price action reflects an actively traded market with rapid sentiment changes. Source: BraveNewCoin Trading volume remains substantial at about $375 million…
What's Your Reaction?
