Crypto Trading Idea, Analysis & Setup: Buy Stellar (XLM)

Technical Chart Analysis :
XLM/USD
Summary: Stellar (XLM) has been under severe selling presure in the past past month, in line with the total Crypto Market. XLM reached a low of $0,176 in June and recovered from then on strong. During the current correction, XLM managed to form a higher low around $0,29.

Trade Idea: Buy XLM @0,24 with stop-loss below $0,17. This means a stop-loss 30% below the current entry level and with a target of $0,36 which is the previous high, we have a profit/risk-ratio of 1,7 which is for me a decent ratio. First resistance we can find at $0,27. 

Note: – Always DOYR (Do Your Own Research). This is not an explicit advice and just for educational reasons. You can read more about our Price Action Course here: https://cryptoacademy.nl/price-action-trading/

Chart Commentary Disclaimer: Our views on the Charts is not advice or a recommendation, it is educational and general information only.