Hey Buds, today I'm taking a look at the weekly chart for
XLMBTC
. Been watching this chart for a while now and with today's price action the long term support box in blue has seemly been violated. If we get a weekly close below this box I expect a further drop in the XLM/BTC pair. This support box has been respected since the first week of April since last year which one would expect will act has a decently strong resistance if we drop by a hefty amount. If you're interested in this project and want to get in my opinion I'd wait for a better entry.
Cheers,
Chloster
XLMBTC
. Been watching this chart for a while now and with today's price action the long term support box in blue has seemly been violated. If we get a weekly close below this box I expect a further drop in the XLM/BTC pair. This support box has been respected since the first week of April since last year which one would expect will act has a decently strong resistance if we drop by a hefty amount. If you're interested in this project and want to get in my opinion I'd wait for a better entry. Cheers,
Chloster
Comment:
Things don't seem to be getting any better for the poor XLM/BTC pair. After a quick failed retest of the large support block a couple weeks back I will be looking at the low 2100's as next possible support level.
- XLM/BTC Weekly close was an ugly one
- Violated long term support
- Pair may go down deeper before making a run at that S/R box
Cheers,
~Chloster