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XLM technical analysis

Stellar Lumens’ (XLM) analysis is carried out today using a log scale on the 6 hour timeframe.

xlm technical analysis, xlm analysis, Stellar Lumens forecast

Price action ever since January 26 this year has remained in a side trend that is best described as a symmetrical triangle chart pattern.

Eventual breakout of the ~10 months chart pattern could see the price of Stellar Lumens collapse on a confirmed downside breakout or move up significantly on a confirmed bullish breakout.

In either case, the width of the triangle is key in estimating a minimum projection for the price of Stellar Lumens upon breakout.

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Interested in Bitcoin analysis (BTCUSD)? Check out our previous work here. Moreover,  XRP analysis (Ripple) can be found here.

 

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