XLM might go sideways for a couple of days but the trend is bullish on short term due to XRP pre trial conference.
The TA indicators looks good and we might touch the previous ATH 1.05$ but totally depends on how nice the XRP presents. Since these 2 tokens are always moving together (except since SEC announced the lawsuit) I expect to see more upward movement for XRP than XLM, but that coin is too volatile and the risks are also increased proportionally.
My target point is 0.75$, if the results of that conference shows some hope we might get up to 1$ or is starting to retrace God knows where.
Please do your DD, here I'm sharing just my point of view on this asset for the next 8 days.
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The bullish news comes from the fact that SEC commissioners are going against the chair. Since the current Chair is temporarily there and she's going against settlements it's good to see the other commissioners trying to support the principle of why SEC was created in the first place (protecting investors). Not agreeing on a settlement is the opposite of that bc a lawsuit can take years to be solved and doesn't help investors neither the companies. Next to be confirmed is Gensler whom is pro crypto in general, but there is no scheduled date for when that event is going to happen.
There is a slight chance that the lawsuit is going to be dropped and a settlement to be announced
Since I'm not a PRO user I'm not allowed to post links sec.gov/news/public-statement/peirce-roisman-statement-contingent-settlement-offers-021221
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Just a small update
There was a small shakeout, don't get emotionally involved in trading and avoid the noise. Potentially, we might see the 0.49$ area in the next 12 hours but it's less likely for that to happen. If we do, I expect a jump back to 0.56$ and a continuation to 0.75$ area after the next 48 hours.
Trade active
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If there is one thing that I hate about crypo is that everyone is allowed to manipulate the markets, from Elon Musk to whales.
My stop wasn't reached, feel sorry for those whom got a hit due to this nonsense.
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I took the hit too. I will have to reconsider a new strategy.
@FlowersFor, It can also drop to zero right? Everything you comment on is always negative. You need to stop commenting on every post. Just make your own charts and see if people want to look at what you have to say!
VajraV
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@baseballpro10, I hate coming across @FlowersFor comments. It’s like being at a party and bumping into that one downer who you wish hadn’t shown up.
baseballpro10
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@vajravaraha, agree, he's just brutal. I sometimes give my take but he is the Debbie Downer of any party he comes to! :)
i allredy short it and made good profit, maybe i should get +10 up vote?
if u dont like bearish scerarios, its u problem.
But it cant be 24/7 bullish.
baseballpro10
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@FlowersFor, I can short the market too. That's not what anyone is upvoting me for. It's your comments on every single post and most of them negative. You always sound like you are contradicting the charter. Nobody want's to hear your take on every chart they look at. That's all. Make your own charts and say whatever you want
@FlowersFor people come to these idea sections to gain an educated insight into the TA. Not random pessimistic viewpoints.
ACT187
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@FlowersFor, the funny thing is you are a lot closer than them! lol low is $.43
calebfordec
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@ACT187, He was right, but we're encouraging people to bring arguments or analysis to support their statement, otherwise he will receive reactions like above.