Hello, dear TradingView members. This is an XLM idea.
XLM moved 5% up and became one of today's top gainers. The price now is on the local resistance level. There are 3 support levels on the way down and only one solid resistance in the short-term scenario on the way up.
There are two scenarios in the current situation:
Scenario One: The price will pass the local resistance and move to the solid resistance area and gets rejected and falls back on the local resistance and turns it into support.
Scenario Two: The price will get rejected by local resistance and fall back to the half-shadow support levels.
RSI is in the overbought area, and the price has more room to go down.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions; I will be more than happy to help.