$XLM , similar to $XRP , the bull pennant formation that I mentioned in the previous article was unfortunately broken and could not continue its upward momentum, but the continuation of accumulation at the level it rose is positive.
In possible pushbacks, the green box would be the desired view to work as support. In case of deeper declines, seeing wicks up to the dashed line levels would not spoil the positive view, but we would like the it not to be too persistent below the green box.
When we look at it in terms of price action, in order for the last local top not to remain a liquidation movement, it should close with a candle body above the red box in the middle and continue to its next higher targets.
In possible pushbacks, the green box would be the desired view to work as support. In case of deeper declines, seeing wicks up to the dashed line levels would not spoil the positive view, but we would like the it not to be too persistent below the green box.
When we look at it in terms of price action, in order for the last local top not to remain a liquidation movement, it should close with a candle body above the red box in the middle and continue to its next higher targets.
