We can see that Lumens have been trading inside a bearish descending triangle in the long term since Jan 2018.
But looking at the somewhat short term (start of May) we have been trading inside a falling wedge, which is bullish.
We will be hitting a critical long term support level at 0.185 soon enough. If the current sentiment continues, I expect it to break that support and go a bit lower before bouncing back and recovering.
For a long term hold, wait for a clear break above the falling wedge.
Disclaimer: Not financial advice. Charting what I see
But looking at the somewhat short term (start of May) we have been trading inside a falling wedge, which is bullish.
We will be hitting a critical long term support level at 0.185 soon enough. If the current sentiment continues, I expect it to break that support and go a bit lower before bouncing back and recovering.
For a long term hold, wait for a clear break above the falling wedge.
Disclaimer: Not financial advice. Charting what I see
Comment:
As long as BTC behaves, I am long on Lumens now.