XLM - Falling Wedge (Reversal) - Keep an eye out
Since early January, XLM has been steadily down-trending. What's easy to see is the Falling Wedge pattern that's been developing on the daily chart. Falling Wedge is a bullish 3-6 month pattern and we are nearing the 3 month mark (beginning of April).
XLM can, and probably will, still drop lower before this reversal happens - hopefully, no lower than 16 cents... but that lowest resistance line is even uglier. When the reversal does (or is about to) happen, look for a Bullish Divergence, a heavy spike in volume, and a true breakout over the upper resistance. Beware the false breakout and expect a correction afterward.
Target : 66+ cents optimistically, 56 cents realistically.
XLM can, and probably will, still drop lower before this reversal happens - hopefully, no lower than 16 cents... but that lowest resistance line is even uglier. When the reversal does (or is about to) happen, look for a Bullish Divergence, a heavy spike in volume, and a true breakout over the upper resistance. Beware the false breakout and expect a correction afterward.
Target : 66+ cents optimistically, 56 cents realistically.
Nota
We are approaching breakout territory. Once it crosses the upper resistance line, be wary of a false breakout. This, of course, is also dependent on where BTC goes, too.
Nota
On its way. Waiting for it to settle over 31.9 cents for confirmation
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.