An analysis for XLMUSD using Gann and Fibonacci circle
The fib circle shows a clear passage through 2.618 following a previous rejection at this level (red arrow), this could lead to a breakout
The gann portrays the length of the bear and current bull run
Price is also sitting right above 0.618, which is established from the previous ATH
We still have some steam...
XLM is inside the Falling Wedge pattern, better we wait for a breakout from the pattern to minimize the risk, the yellow support is strong support from weekly price action, and the resistance too
Follow me, its good IDEA :)
Now XLM is very interesting for a little time frame scalping. (1,5,15m)
for a long position we need hard confirmation for a trend.
Please share your opinion in the comments
This is not financial advice !!!
Fixed Ranged Volume Profile Point of Control lines up almost perfectly with the .65 Fibonacci golden pocket retracement. RSI + Wave Trend Indicators show a Hidden Bullish Divergence on both between end of Nov 2020 and end of Aug/ early Sept.
I am not a financial advisor and these are my opinions solely based on TA I have done.
Happy trading
Cheers
This is 1D Chart on ABCD Pattern.
so I think this is a good opportunity for trading .
you can check it and join it after start move.
After BTC Movement , alt coin can start a little move.
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.3413).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XLMUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic...
XLM is one of those cryptocurrencies which are quiet but which are appreciated by influential lobbies in several countries, they cooperate with the biggest ones and develop very well, I think for a LONG time, it is one of the best investments
Time is the only thing remaining to be fulfilled before a turn-around happens. This have been a nice bounce to from .25 to .299 but I think the energy needs to be gathered from the .23 area.
With some bullish divergence coming in on the CCI, RSI, and STOCHs I think we are safe to go back up until the daily tops out again. There are 2 trend lines that target the .36 and .39 levels. Also we've bottomed in the typical monthly period around the 21st. This is not pro advice.
XLM/USDT is currently holding a long term support line in the uprising channel. It can drop with a wick to 0.26 and still be OK. However, breaking and closing below 0.26 is bearish.
In my view, now is a good time and price to start accumulate for targets above $2.
Also, remember that RSI is leading indicator. so watch for RSI break to be more confident.
Good...
ABC correction forming
Fibs are lining up nicely
Ichimoku Conversion line down crossed Base line, calling for a correction
Expecting local Fib correction to around $0.26 - $0.28
After it could make a move up to a 0.702 retracement from the ATH in May. Retest of local ATH at $0.42 possible, could also shoot straight through to set new ATH.
New ATH would be $1.01...
