After correction XLM is back on track but will it hold ?
This is my analysis.
After a nice gain of ~125% XLM (green area 1 and the long bar) started a long correction period. (Orange area). It dipt a bit before it created a new upchannel (or rather reentered an old upchannel from dec. 2020) The Teal is the most promising channel which we are currently in and a drew another a bit more realistic up channel underneath it (Green). Based on a Trendline from way back in December 2020. If we continue in this uptrend i based my targets on the fib range of the last gain from Jan 21st to Feb 22nd 2021.
The Top green line is the most optimistic. The middle green line is the one where XLM will be correcting a bit before going towards the first target. A more bearish scenario is the red line. Which will bring us back where we left ( big support ) at around 0.38 - 0.40
Please do your own research these are trend lines and the future could deviate from it. Always keep track of BTC if that dips most of the alt will follow.
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Still in the very best position. Keeps mostly in the most steep uptrend channel.
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btc killed the momentum. We need to wait for it to recover and form a straight line. For now XLM looks good. It's still in a rising channel.