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 1st 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.
Buy Limit Order @ 0.33989
TP 1 @ 0.36537
TP 2 @ 0.39027
Stop Loss @ 0.33149
Trade Safely 🙂