XLM rallied through resistance on high volume last week. However it quickly pulled back, finding support around 0.23.
Given the high volume on the initial rally and the low volume pullback, another test of the trendline (0.27) and the new high (0.303) are likely.
The alternative scenario is that the H&S shoulders completes and 0.23 gives way - this would open up a target of 0.16 with large selling volume
as last week's buyers are stopped out.
Given the high volume on the initial rally and the low volume pullback, another test of the trendline (0.27) and the new high (0.303) are likely.
The alternative scenario is that the H&S shoulders completes and 0.23 gives way - this would open up a target of 0.16 with large selling volume
as last week's buyers are stopped out.