XLMUPUSDT (XLMUP) - POTENTIAL BUY ENTRY
ANALYSIS 🔎
- XLMUPUSDT has been ranging since December 2020.
- The market is testing the ATL support.
- The downtrend to the support was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance and retraced
- Price action is printing a falling wedge (FW) pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- ATH (All-Time High) resistance.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
- This breakdown will probably lead to the retest of the ATL support.
- Which if it holds, will lead to the formation of the double bottom bullish reversal pattern.
- XLMUPUSDT has been ranging since December 2020.
- The market is testing the ATL support.
- The downtrend to the support was resisted by the descending trendline resistance (DTR).
- Price brokeout above the descending trendline resistance and retraced
- Price action is printing a falling wedge (FW) pattern.
- There's a breakout potential.
BUY ENTRY ⬆️
- Breakout above the falling wedge's resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- ATH (All-Time High) resistance.
SETUP INVALIDATION ❌
- Breakdown below the falling wedge's support.
- This breakdown will probably lead to the retest of the ATL support.
- Which if it holds, will lead to the formation of the double bottom bullish reversal pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.