XLM/USDT (Futures) Potential Upward Movement

XLM/USDT (Futures) Long-Term Trend: Bullish

Key Resistance Levels: 0.36602, 0.39027, 0.40000.

Key Support Levels: 0.33062, 0.31292, 0.31000.

Daily Time Frame:

The price on the higher time frame found support around the 0.32990 USDT mark where it posted an engulfing bullish flag which led to a reversal and a move to the upside. Most probably we are in the 1^st leg up in a new trend to the upside and we expect a new impulsive wave toward the next key resistance level.

XLM/USDT (Futures) Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price is traded inside a bullish flag formation where a lower correction could be seen toward the area of confluence. This zone is made of the 50% Fibonacci retracement level, a strong support, and the lower end of the flag pattern. This could lead to the end of the correction and then a new move to the upside.

Signal Idea:

Buy Limit Order @ 0.33989

TP 1 @ 0.36537

TP 2 @ 0.39027

Stop Loss @ 0.33149

Trade Safely 🙂