At the moment I'm writing this XLM is hitting a resistance, a retracement is possibile, I've also drawn that support line to show where it could possibly bounce or at least slow down in case of a bigger retracement. However VLPR shows a lot of trades at the base of that green candlestick which hit the resistance so that level could work as support as well.
Volume isn't particularly high and this worries me, makes me think the retracement is likely to happen.
If you wanna enter XLM I'd set a buy order around 0.5168, put a 30% of the money there and see how it goes.... if it goes, the retracement might not reach that point. In case price makes of 0.5350 a support enter at the RETEST of that level. If price goes lower of 0.5140 do not enter with the rest of the money until you're SURE it bottomed.
XLM is weird, it does nothing untl it does everything! Let me add this: XLM basically follows XRP and right now XRP seems doing well.
Volume isn't particularly high and this worries me, makes me think the retracement is likely to happen.
If you wanna enter XLM I'd set a buy order around 0.5168, put a 30% of the money there and see how it goes.... if it goes, the retracement might not reach that point. In case price makes of 0.5350 a support enter at the RETEST of that level. If price goes lower of 0.5140 do not enter with the rest of the money until you're SURE it bottomed.
XLM is weird, it does nothing untl it does everything! Let me add this: XLM basically follows XRP and right now XRP seems doing well.
Comment:
Price is testing my support at 0.5140, if it bounces back, retests and bounces back again you can enter otherwise sell/stay away until you're sure the retracement is over