Could This Bullish Break Take XLM to .95?!

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Let's break down what I see on XLMUSD on the 4Hr Chart!

Based on the Rally from the Low @ .089 to the Multi-Year High @ .633, we can see Price fell into a Pennant Pattern, First making a Retracement to .425 or the 38.2% Fibonacci Level to find Support then found Support again at .505 or the 23.6% Fibonacci Level.

Price has given us a Break of the Falling Resistance and upon the opening of the 4H & 1H Candle, Retested the Break of Falling Resistance.

Now the Rally generated from the Low @ .229 to the High @ .633 was a ~ .40 or 175% increase.

-If Bulls are able to hold Price above the .50 - .54 area, that .40 movement or potential 74% increase in Price from the Point of Break could lead us to the Potential Target of .95!

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تم فتح الصفقة

Here on the Daily we can see if Bullish Momentum stepped in, this would be a good Area of Support!

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