Fasten Your Seatbelts The Craziest Flight Of Stellar Lumens XLM Is About To Begin

Trendline support and SMAs:
After the powerful bull run, the price action of Stellar dropped very hard and broke down the uptrend line support. This trend line was working as a long-term market structure for the price line of XLM. After breaking down this trendline support the price action moved at the weekly 50 simple moving average and at the moment it is moving around this SMA. After the 50 simple moving average, there are also 100 and 200 simple moving averages below the price line.

Support and resistance:
The price action of Stellar has a very strong support zone starting from $0.28 to $0.22. If this support zone will be broken down then the price action can move to $0.12 because there is no significant resistance and support between $0.22 to $0.12. Therefore, for the price reversal, it is very important for XLM to save this supports zone.

Bullish harmonic Cypher move:
On the 2-week time frame chart, the price action of XLM has formed a big bullish Cypher pattern. There is also 25 SMA support in the buying zone. As per the Fibonacci sequence the buying and sell targets of this Cypher pattern can be as:
Buy between: $0.3474 to $0.2248

Sell between: $0.4439 to $0.6757
The maximum extent of potential reversal zone $0.2248 can be used as stop loss. As per the above targets, this trade has a big profit possibility of 200%, and the high loss possibility is 36%, however at this time the risk is low as the price action is already close to the end of the buying zone.

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