MagicPoopCannon
Panjang

Stellar has exploded higher, but may be approaching resistance.

BITTREX:XLMUSD   Lumen / Dollar (calculated by TradingView)
2492 1 24
Looking at the four hour chart, we can see that Stellar             has exploded out of the ascending broadening wedge that it was trading in. The crypto market cap has also skyrocketed to over $718B, from $597B 48 hours ago. There is an enormous amount of money flowing into crypto at the moment, and it's going into high ranking low valued coins — like Stellar             . Since we are in uncharted territory, the only way to assess an upside target, was to take the height of the ascending wedge , at the breakout, and apply it to the breakout level. As you can see on the chart, the target area has already been breached. However, this thing could certainly charge higher. Volume looks healthy, and the MACD is showing explosive momentum to the upside. If a pullback does occur, it will probably pull back to the top of the ascending broadening wedge (show in blue dashes.) XLM             is miles above the 50 and 200 EMAs at the moment, so a pause would be healthy for future advancement.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
great work
Balas
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