The cryptocurrency market has started the new year with signs of recovery following a significant correction in December. Bitcoin and other altcoins are showing positive trends.
XLM's Technical Setup: Falling Wedge Pattern
Recently, XLM experienced a pullback after hitting resistance at $0.63, forming a falling wedge pattern. However, XLM is bouncing back from the wedge's lower boundary, indicating a potential breakout as MACD and RSI show bullish signals.
What's Next for XLM?
If XLM can maintain its current momentum and breach the $0.3524 resistance, it could target $0.46 and $0.63. However, failure to breakout could mean a retest of the $0.33 support level.
Conclusion
XLM shows promising signs of recovery, but a confirmed breakout is crucial for sustained upward movement. Investors should keep an eye on key resistance and support levels.
XLM is showing promising recovery signs, with bullish signals from MACD and RSI. However, a confirmed breakout is crucial for sustained upward movement.
