In this chart we can see that XLM is kissing the .30 USD support price which coincides with a 61.8% FIB retracement. However, it is likely that the next FIB level of 78.6% will be tested @ .20 cents - If this price is hit, it will "more-or-less" coincide with the 240- MA. If this asset can remain above where it is now, at the crucial psychological level of .30 USD, it will pick up steam going into Q2 2018. If not, it'll fall to it's previous support of 20 cents and then begin its upward, impulse rally unless the market isn't done correcting, in which case we would have to re-evaluate this analysis.
As always, I recommend for every one to further expand their knowledge and do as much research as possible when investing. These are my own personal opinions and should be considered educational resources rather than financial advice. Good luck out there cryptonauts.
As always, I recommend for every one to further expand their knowledge and do as much research as possible when investing. These are my own personal opinions and should be considered educational resources rather than financial advice. Good luck out there cryptonauts.
Comment:
The .30USD support price has been breached. It is only a mater of time before it gets to the .20-.25 range. I strongly believe this will be the beginning of an uptrend reversal.