XLM (Lumens), the native token of the Stellar blockchain, was one of the leaders of the Altcoin rally we saw the past few days. It rallied ~60% in approximately 3 days before starting to retrace. We have now come down more than 20% from the high of .00000944. We are approaching the .618 Fib retracement level. This is always a good zone to watch for a bounce after such staggering rallies.
The strategy would be to buy as close to the .0618 fib (.00000715 BTC) as possible. This is a short term trade just intend to catch the bounce. Look to take profit around .0000077 for ~5% profit. This zone may become resistance as the price retraces further. Give the overbought conditions on the daily chart holding onto a long position here is too risky for my taste.
Watch for the short term bounce!
Happy trading!
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The strategy would be to buy as close to the .0618 fib (.00000715 BTC) as possible. This is a short term trade just intend to catch the bounce. Look to take profit around .0000077 for ~5% profit. This zone may become resistance as the price retraces further. Give the overbought conditions on the daily chart holding onto a long position here is too risky for my taste.
Watch for the short term bounce!
Happy trading!
Like comment and subscribe!