XLM - Falling Wedge (Reversal) - Keep an eye out

BITTREX:XLMUSD   Lumen / US Dollar (calculated by TradingView)
Since early January, XLM has been steadily down-trending. What's easy to see is the Falling Wedge pattern that's been developing on the daily chart . Falling Wedge is a bullish 3-6 month pattern and we are nearing the 3 month mark (beginning of April).

XLM can, and probably will, still drop lower before this reversal happens - hopefully, no lower than 16 cents... but that lowest resistance line is even uglier. When the reversal does (or is about to) happen, look for a Bullish Divergence , a heavy spike in volume , and a true breakout over the upper resistance. Beware the false breakout and expect a correction afterward.

Target : 66+ cents optimistically, 56 cents realistically.
Mar 25
Comment: We are approaching breakout territory. Once it crosses the upper resistance line, be wary of a false breakout.

This, of course, is also dependent on where BTC goes, too.
Apr 15
Comment: On its way. Waiting for it to settle over 31.9 cents for confirmation
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out