XLM/USDT successfully broke out from the inverse head and shoulders pattern it formed on the 4h time frame and is now looking to break upwards past it's ATH and push towards my first TP target at the 1.618 fib extension level ($0.87). Thereafter we should see a second leg up towards the $1 level which will be a large psychological resistance. Once broken, our second TP will be at the next fib extension level of 2.618 ($1.18).
It will be interesting to see how this plays out over the coming weeks ahead with May being a historically bullish month for altcoins. Be sure to follow me on TradingView to stay updated and for future analysis.
It will be interesting to see how this plays out over the coming weeks ahead with May being a historically bullish month for altcoins. Be sure to follow me on TradingView to stay updated and for future analysis.