I’m trying very hard to be bullish on XLM, but it’s just rejecting every level. If it does not manage to break out from this trend line we will soon be back at 0.10 and even lower levels if we close below the 0.10 mark.
Price has formed an ascending triangle on the 45 min chart. A breakout attempt was made but turned out to be fake, so price jumped right back into the triangle below the resistances. A breakout above this resistance and a successful retest can take us to 70k-71k. The idea will be invalid if support is broken and price closes below the support line.
A break out from this falling wedge is gonna send the price straight to 4.8k as the initial target. Price could go way beyond the ATH, but for now a conservative initial target of 4.8k is reasonable.
A breakout above the ascending channel is going to be explosive for gold. In this market condition even if price rejects the top of the channel it will still be able to find support and climb back above it. Considering gold is in a bull market, I don’t think it is a far fetched idea to expect the price to go levels beyond this channel.
Clear rejection of the green area (resitance) so far. Back to the support level and it’ll be very telling where the next target is. Breakdown below the support and we will se the lower support level, a bounce on the upper support trend line might be a sign of attacking the green area again.
Wave 1,2,3, and 4 are complete. Wave 5 in the making. I believe 161.8% of wave 1 is a legitimate target for this cycle top.
Ignore the target on the chart (it’s just hookup), but please do study the parallel trendlines. I really think they are legitimate and backed up by price reactions. Some of these trendlines have the potential to be resistance or support levels, so it’s handy to keep track of them when price gets close to them to look for a breakdown or a breakup.
A nice rebound from the 57-57k area, but the more we visit the current support on the upper trendline the less credible it becomes. An important level indeed.
This is a clear breakout from the descending channel or the downtrend whichever you want to call it. Furthermore, a healthy retest can ve spotted as well. Only time will tell if this retest if legit. Next target in my opinion is 66.5k.
1) Broadening Wedge pattern stpotted 2) Broken support. Previous support potentially will be the new resistance. 3) Next support level = 104 4) breaking below 104 is going to take us back down to 103 support level.
If xrp hits 44 dollars by the end of the cycle and this chart plays out then XLM could be worth 59% less than XRP, which is still a higher ROI than XRP, but I really don’t know if this scenario will happen or not. If someone could take a look at this chart and expand on the idea it would be nice.
In the real world, a patter like this should not exist. But this broadening edge suggests that an XLM to BTX ratio could be 0.00037, which means that if this happens when btc is at 140k then XLM would have to be at a staggering 53 dollars, which means its market cap would have to be at 1.5 trillion dollars. This is too much. This will never happen in the next...
In the past 6-8 months every time I have published a bullish idea about XLM price has crashed vehemently with no shame in contradiction to all my ideas. So when you see an XLM idea on TradingView by me, it is in itself a signal to run away from this mad dog. On the other hand, I still think this scenario will play out. The price will not hit the highest trend...
A successful retest of the 2,070 - 2,080 level is gonna set Gold up for an explosive bull market. That’s the rational scenario, but markets tend to behave irrational so there’s that risk as well.
I’m comparing March 2017 to March 2024, because I have run out of bullish ideas and this is the last thing that comes to mind. Look at the chart in the comment to see the comparison.
Simple stuff. Support broken. Next support 63-63.5k. Potential server sal from the 63k support level if we do not break/close below it.
So everyone’s posting bullish posts agains because XLM has gone up one cent. I’ll just throw this out here…
Breaking out of this hell hole deserves a celebration, if the market doesn’t act irrationally like always and price doesn’t go back into the descending channel.