$XLM — Impulse… then Correction. What’s Next? 🔄📈

[theSignalyst]

$XLM fired an impulsive rally in July, then shifted into a contracting correction (falling wedge) on the daily. Price is now hovering above a key support at $0.35 with a secondary floor at $0.315.

Trend context: Macro bias improving post-impulse; short-term in correction.

Key levels

$0.35: First support / wedge base

$0.315: Strong support if $0.35 fails

$0.40–$0.42: First resistance on a break higher

$0.50: Higher-timeframe resistance

Confluence

Falling wedge + horizontal support at $0.35–0.315 = decision zone where bulls typically probe for continuation.

Scenarios

Bullish : Hold $0.35–0.315 and break the wedge top → momentum toward $0.40–0.42, then eyes on $0.50.

Bearish : Daily close below $0.315 → deeper pullback toward $0.225–0.20 before any fresh attempt higher.

What do you think: is this just a healthy correction before the next leg up, or does $XLM need one more dip into $0.315 to reload?

️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

Stick to your trading plan regarding entries, risk, and management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr