XLM at Risk to Falling to Around $0.29 in the Near Term

An analysis of XLM USD in the near term group of time frames (1D, 2D, 3D, 4D) as a compass and the short term group of time frames (90 min, 3H, 6H, 12H) for more precise entry and exit using the Phoenix Ascending indicators and Bad Ass Bollinger Bands (publicly available, see video publications David Ward, aka Wykoff Mode, at www.tradingview.com/u/WyckoffMode/ for more information of how to use the indicators).

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Please note the downward pressure race that was triggered when the red RSI crossed and closed below 50 in the 1D time frame. The downward pressure race, which is ongoing, is between the red RSI in the 2D to cross and close below 50 and the WE in the 1D to cross and close above level 50. If the red RSI in the 2D crosses and closes below 50 (this is likely to happen on Feb 26) before the WE in the 1D crosses and closes above 50 (this is likely to happen on Feb 27) then the red RSI wins the race and downward pressure is sustained. In contrast, if the WE in the 1D were to cross and close above level 50 before the red RSI in the 2D crosses and closes below 50 then the WE would win the race and there would be a reversal to sustained upward pressure. Also note that when the red RSI in the 2D crosses and closes below 50 (this is likely to happen on Feb 26) this will trigger a downward pressure race between the red RSI in the 3D and the WE in the 2D.

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Near term price targets

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Note: This is not financial advice. I am not your financial advisor. These are my opinions.

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