Crypto
XLM Completes Signal That Preceded 95% Price Surge
A technical signal has emerged in the weekly chart of Stellar (XLM) that previously preceded a significant rally. The cryptocurrency completed a TD Sequential buy signal, which is a tool used to identify potential price reversals by counting candles of the same polarity.
The setup phase of the indicator ended after nine red candles, indicating the downtrend may be exhausting itself. This pattern has historically been followed by an upward move in XLM's price.
A similar signal formed in March at similar levels and preceded a 95% surge. However, it's essential to note that this signal did not trigger an immediate rally but rather required a consolidation period first.