One can see two patterns: an inverted s - h - s formation (red) and also a quasi symmetrical triangle.
The price seems to break the upper limit of this triangle which would be the neckline of the shs-formation.
As the momentum for XLM is currently strong an upside movement is probable; more than a rebound to the bottom of the triangle.
Even after this breakout XLM hasn´t left the existing descending parallel channel (red). But with enough momentum - and indicators are giving positive signs - it could break to the top and aiming the swing trend line at 0.52$.
RSI is rising, MACD positive and trigger line above signal line, EMA 20 is below but rising. There is only a lag of volume relatively to older movements. Perhaps it´ll come back with good news.
buy: above swing trend line (orange) / outside triangle on the top
stop: below the current support (fib retracement 61.8% at 38.77$)
The price seems to break the upper limit of this triangle which would be the neckline of the shs-formation.
As the momentum for XLM is currently strong an upside movement is probable; more than a rebound to the bottom of the triangle.
Even after this breakout XLM hasn´t left the existing descending parallel channel (red). But with enough momentum - and indicators are giving positive signs - it could break to the top and aiming the swing trend line at 0.52$.
RSI is rising, MACD positive and trigger line above signal line, EMA 20 is below but rising. There is only a lag of volume relatively to older movements. Perhaps it´ll come back with good news.
buy: above swing trend line (orange) / outside triangle on the top
stop: below the current support (fib retracement 61.8% at 38.77$)
Trade active:
The sentiment is generally positive (see the prices of other coins).
After this resistance is taken the next bigger aim will be the fib resistance 61.8%. (price 0.61$)