- Stellar (XLM) shows signs of a potential rebound as the TD Sequential indicator flashes a buy signal.
- Stellar could target resistance around $0.345 if buying pressure strengthens and momentum holds.
Stellar (XLM) may be ready for a rebound. Ali Martinez, a renowned cryptocurrency analyst, recently highlighted a potential buy signal on XLM’s hourly chart. The signal comes from the TD Sequential indicator, known for spotting trend reversals.
This indicator showed a green “1” candle after a red “9” count. This setup often suggests that selling pressure has faded, paving the way for a price reversal. Martinez’s chart featured a black arrow marking the buy signal point, with the price consolidating after a downward trend. If the pattern holds, XLM could experience a short-term uptick.
Recent Price Movement and Market Context
At the time of Martinez’s post, XLM traded around $0.33944 on Binance. The token had been on a decline, forming lower highs and lows. The TD Sequential buy signal hints at a momentum shift.
Traders, however, often wait for confirmation. A bullish candle after the signal, higher trading volume, or a break above resistance levels can validate the reversal. Without these confirmations, caution remains crucial.
Ali Martinez’s Broader Market Insights
Martinez doesn’t just focus on Stellar. He also offers insights into other cryptocurrencies like XRP. Recently, he suggested XRP might be “ready for an upswing” based on technical patterns. He pointed out a cup-and-handle formation on XRP’s chart, hinting at a potential breakout above $3.
His consistent analytical approach across various assets lends weight to his XLM prediction. Still, market conditions can shift quickly, so staying updated is essential.
Stellar : What’s Next?
While the TD Sequential indicator signals a buy, traders should remain vigilant. Broader crypto trends, market sentiment, and external economic factors can sway XLM’s movement.
If buying pressure intensifies and XLM forms higher highs, it could target resistance around $0.345 or beyond. On the flip side, if momentum fades, further downside remains possible.
In the fast-moving crypto world, confirmation is key. Watch the charts closely and stay informed to navigate potential opportunities with Stellar.
