After struggling to break the 0.35 zone for quite some time, XLM rallied through and successfully created a new price floor in this region.
The new support is proving to be strong: each time price has retraced back to this level we see a strong rejection, leaving nothing but a trail of long kangaroo tails and sexy bullish candles.
Demand Zone 1:
This Demand Zone formed on the 61.8 Fib - a Golden Zone
As expected - price retraced back to this level before rallying once more to the top of the countertrend channel.
This bullish optimism created our second demand zone ...
Demand Zone 2:
This second demand zone appears to be a bit less enthusiastic at first glance... however, this one is actually a bit more exciting: we see price respected the zone, rejected the level and broke the counter-trend cannel.
So hopefully, ladies and gentleman, we're on our way to the moon.
Volume is still relatively low and moving in the same direction as price - not only does this add confirmation to our long positions but also shows there is plenty of room for growth.
The new support is proving to be strong: each time price has retraced back to this level we see a strong rejection, leaving nothing but a trail of long kangaroo tails and sexy bullish candles.
Demand Zone 1:
This Demand Zone formed on the 61.8 Fib - a Golden Zone
As expected - price retraced back to this level before rallying once more to the top of the countertrend channel.
This bullish optimism created our second demand zone ...
Demand Zone 2:
This second demand zone appears to be a bit less enthusiastic at first glance... however, this one is actually a bit more exciting: we see price respected the zone, rejected the level and broke the counter-trend cannel.
So hopefully, ladies and gentleman, we're on our way to the moon.
Volume is still relatively low and moving in the same direction as price - not only does this add confirmation to our long positions but also shows there is plenty of room for growth.