Everyone is talking about XLM lately and they should be, big things are comming for this coin!
Looking at the daily chart we can see that XLM formed a bull flag that already started a trend reversal, a green candle broke out of the "flag". I suggest waiting for the next daily candle to close above the flag and then going long.
However, if XLM pumps it will go towards 0.09 resistance which has been rejecting XLM since last summer, in the last year XLM tested the resistance a couple of times. I'm pretty sure that in the following week Lumen will re-test the resistance and break it. Why? Bitstamp is about to list Lumen and PAX on 15th, and they did not list a coin for three years.
Also, the trend line was not broken since corona dump and it seems to hold strongly. I dont see us testing it in the next days. Although if the uptrend line would be broken, a drop to the 0.062 resistance would be possible.
I am strongly bullish on this one! Let me know what you think about this TA in comments.
Looking at the daily chart we can see that XLM formed a bull flag that already started a trend reversal, a green candle broke out of the "flag". I suggest waiting for the next daily candle to close above the flag and then going long.
However, if XLM pumps it will go towards 0.09 resistance which has been rejecting XLM since last summer, in the last year XLM tested the resistance a couple of times. I'm pretty sure that in the following week Lumen will re-test the resistance and break it. Why? Bitstamp is about to list Lumen and PAX on 15th, and they did not list a coin for three years.
Also, the trend line was not broken since corona dump and it seems to hold strongly. I dont see us testing it in the next days. Although if the uptrend line would be broken, a drop to the 0.062 resistance would be possible.
I am strongly bullish on this one! Let me know what you think about this TA in comments.