This chart is just an update on where XLM currently sits as of 03.31.21.
We are currently bouncing in between the 20 & 50 MA. A positive outcome will take place if we manage to stay above these points as we reach the wall on our descending wedge.
Next we look at the dynamic resistance (yellow line) we have as well as the regular resistance levels (outlined in red) that we need to break in order to continue upwards. I am overall bullish on XLM however we do have a lot of work that needs to be done to continue our positive movement.
The RSI looks good. I have outlined where we currently sit, and you can see what has happened in the past from this level. This alone is NOT definitive, but I outline it to show what can happen depending on volume.
XLM is a coin that takes a long time to move, we all realize that at this point. However, when we do move it is rapidly.
Be prepared, trade smart and always practice risk management!
This idea is NOT financial advice and I am NOT a financial advisor. I am posting publicly for feedback on my TA and for networking purposes.
Please comment, follow and like.
Thanks !
We are currently bouncing in between the 20 & 50 MA. A positive outcome will take place if we manage to stay above these points as we reach the wall on our descending wedge.
Next we look at the dynamic resistance (yellow line) we have as well as the regular resistance levels (outlined in red) that we need to break in order to continue upwards. I am overall bullish on XLM however we do have a lot of work that needs to be done to continue our positive movement.
The RSI looks good. I have outlined where we currently sit, and you can see what has happened in the past from this level. This alone is NOT definitive, but I outline it to show what can happen depending on volume.
XLM is a coin that takes a long time to move, we all realize that at this point. However, when we do move it is rapidly.
Be prepared, trade smart and always practice risk management!
This idea is NOT financial advice and I am NOT a financial advisor. I am posting publicly for feedback on my TA and for networking purposes.
Please comment, follow and like.
Thanks !