XLM Technical Analysis: The Probability Of Reversal Is As High As Possible

XLM cryptocurrency is one of the few that have survived the fall of the cryptocurrency market. In the previous article, we wrote that we expect a test mark of $0.14. Of course, such a flurry of sales that occurred in the XLM market in a relatively short time was difficult to predict. In general, in a wave of panic, the XLM price was able to go even below $0.14. Thus, sellers managed not only to break an important range but also to update the local low from December 2020. All the stop orders of buyers who collected the position for six months actually worked out. https://www.tradingview.com/x/Yel23IOX/ What can you expect from XLM cryptocurrency next? First, it is worth noting that the weekly candle closed above the $0.14 range. A large pin has formed on the chart, which in a favorable market can signal a global market reversal. However, given the current sluggishness of the Bitcoin price movement, we still assume a modest 2 rebound of the XLM price to $0.2. This mark is the bottom trend line of sellers, which the price can not break from May 2021. If buyers manage to take control of this mark – in this case, we can predict the beginning of the reversal of the price and the transition of the initiative to buyers. Technical Analysis Of XLM On The Daily Timeframe https://www.tradingview.com/x/Is0aRuBq/ Analyzing the movement of the XLM price on the daily timeframe, we see two local liquidity zones, between which consolidation may...