fxstreet.com 27 Jan, 2021 07:15 am

Stellar will skyrocket by 70% if it breaks above critical resistance

Stellar price is trading sideways due to the consolidation that followed a breakdown from 2021 highs around $0.4. On the downside, support has been es

Stellar is grinding closer to a forming bull flag pattern breakout, eyeing $0.A bull flag pattern appears to be forming on the 4-hour chart, revealing that Stellar is nearing a possible 70% upswing.A bull flag pattern on the 4-hour chart could see XLM assume an uptrend extending 70% above the breakout point.Note that a bull flag is a technical pattern interpreted as bullish.

A break under the 200 SMA on the 4-hour chart could force XLM to abandon the bullish outlook.XLM/USD 4-hour chart As mentioned, the 200 SMA presents formidable support.

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