XLM - Falling Wedge (Reversal) - Keep an eye out
Mis à jour
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.
Note
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.
Note
On its way. Waiting for it to settle over 31.9 cents for confirmation
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.