$XLM 4hr Analysis Update

Current Market Conditions:

Support Levels: Strong support at $0.41, with MA99 (purple line) adding to this support.

Resistance: Facing minor resistance at the 25MA (pink line) and major resistance around $0.60.

Technical Analysis:

Trend: The price is consolidating below the major resistance at $0.60. The 25MA is acting as a short-term resistance, but the overall trend suggests potential for upward movement.

Moving Averages:

25MA (Pink line ): Current resistance , above the current price, indicating bullish sentiment.

MA99 (Purple): Additional support to $0.41(horizontal support)

STRATEGY :

Entry Points: Safe entries below $0.50, with an average entry below $0.45 for better risk-reward.

Stop Loss: Consider setting a stop loss near the strong support at $0.41 or slightly below to manage risk.

Targets:

Short-term targets: $0.54, $0.57

Mid-term targets: $0.60, $0.6667

Long-term targets: $0.72, $0.80

POTENTIAL SCENARIOS

Bullish Breakout: If XLM breaks above $0.60, expect a move towards $0.72 and potentially $0.80.

Consolidation: Further consolidation might occur before a breakout, with possible retests of the $0.43 level.

Bearish Scenario: If the price fails to hold above $0.41, a deeper correction might be seen, but the MA99 and strong support levels suggest this is less likely.

Action Plan : Keep #XLM on your watchlist for potential entry points below $0.50.

Monitor: Keep an eye on the price action around the $0.60 resistance. A breakout here could signal a strong bullish move.

Risk Management: Ensure your positions are well-managed with stop losses and take profit orders set at strategic levels.