XLM/USD is still in the downtrend however price reaching major historical support level.
For sure it a great place to accumulate some $XLM.
There are at least several things that we need to see on the chart to be sure that reversal is happening:
1. Price has to break bold yellow resistance line;
2. Price has to start making lower highs and higher highs on daily chart;
3. Price has to surpass 0.1$ first but minor psychological level
If current support level will not hold we may see price going to 0.03$ but it's unlikely in my opinion.
In any case 2 year cycle is coming to an end and we will witness a start of new uptrend cycle in the upcoming year.
Here is my XLM/BTC chart:
Trade carefully and good luck!
For sure it a great place to accumulate some $XLM.
There are at least several things that we need to see on the chart to be sure that reversal is happening:
1. Price has to break bold yellow resistance line;
2. Price has to start making lower highs and higher highs on daily chart;
3. Price has to surpass 0.1$ first but minor psychological level
If current support level will not hold we may see price going to 0.03$ but it's unlikely in my opinion.
In any case 2 year cycle is coming to an end and we will witness a start of new uptrend cycle in the upcoming year.
Here is my XLM/BTC chart:
Trade carefully and good luck!
Note
2. Price has to start making higher lows* and higher highs on daily chart ;On the short-term XLM/BTC chart there is a Falling Wedge pattern.
But price can go in both directions considering current market sentiment.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.