Stellar Lumens price pullback could offer a great discounted buying opportunity if it doesn't exceeded below $0.30.
pumped 45% in early January but erased some gains. The recent market sell-off could offer swing traders and investors another buying opportunity.
After soaring from $0.30 to nearly 50 cents, XLM’s ongoing pullback was headed toward key levels that could interest bulls again.First, the New Year’s upswing flipped the daily chart market structure bullish. This could be shifted if the retracement extended below the recent low at $0.32.The recent pullback was about 18% and closed in on key levels of $0.36, and the December support stopped the holiday sell-off at $0.30.
The two levels could be market re-entry for bulls targeting overhead supply below $0.50 . A bullish idea would be invalidated if XLM extended its decline to below $0.30.The $0.30 support was further reinforced by the weekly charts, which marked the cyan area as a breaker block that could trigger a price rebound if defended.From a liquidity sweep perspective, there were two upside liquidity levels worth tracking. The first was between $0.43 and $0.45, and the second was at $0.48.
In short, one could book partial profit at the first target and liquidate the rest when the price taps the $0.48-$0.50 target. In conclusion, XLM’s market structure and liquidation heatmap suggested a great buying opportunity if the pullback extended to $0.30.Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionBenjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends.
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