This trend line is so simple yet so important for investors. above the trendline you will have your mini bull market. below the trend line where price currently is means XLM is in a bear market and you're only hoping for a bull market. as you can see, price broke above the trendline but failed to stay above it and broke down below the trendline continuing to be subdued by the bear market. people think just because the crypto market is in a bull market XLM is also in a bull market, which is only normal and reasonable to think that way, but when xlm chart has bear market signals written all over it, you can't lie to yourself forever. on the other hand, i will turn bullish once price breaks above this trendline and continues upward with a successful retest of the breakout. that is the safest way to play this chart. i would like to say upon successful retest of this trendline price target is 38-40 cents, but given the disastrous performance of XLM in this cycle, i would not be surprised if price struggles facing every single resistance level ahead.
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hodl & get rekt
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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.