🔥 XLM Weekly Falling Wedge Break Out

By crypto.com - Weekly DeFi Update (Week 16, 18/04/2022 – 24/04/2022)

🔥 XLM Weekly Falling Wedge Break Out by FieryTrading on TradingView.com

Since topping last year May, XLM has been dominantly trading bearish . During this period, a falling wedge pattern has appeared on the chart.

For now, it's likely that XLM will follow the wedge further after being rejected from the resistance recently. In case we trade down over the coming weeks, I'm looking at the wedge's support area for a potential base of support and following bounce.

Falling wedges are classically bullish reversal patterns, so keep an eye out for a bounce followed up by a bullish break out of the pattern.

Happy trading!

By crypto.com - Weekly DeFi Update (Week 16, 18/04/2022 – 24/04/2022)

Fierytrading Analysis

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