XLM Entry

Seems that XLM has been consolidating at around .36-.34, with a strong support at the .33 level. Seems like a good entry for a possible breakout in the next couple days, as I think XLM has a lot of room for growth.

Entry: .33
Target: .55
Stop Loss: .285

Trade active

Trade active:

Looks like some pretty big selling pressure has taken place since I posted this. Hoping for a retracement bounce at the .29 level but possible this is going to be a loss.

Comment:

One thing I did not take into account here: BTC hitting 40k and the inevitable dump at that point. In hindsight this would have been a good short opportunity to buy at a lower price.

Thankfully I didn't invest too much at the .33 and my stop loss will prevent further downside while Coinbase figures out how the hell to keep their platform working during sell-offs.

Trade closed: stop reached:

Looking bearish in the near-term at least as it broke down under the .29 level.