XLM - Possible Falling Wedge Breakout
Updated
It's been a rough 24 hours for XLM. BTC shot through the roof again and XLM took a huge hit to its momentum. We've reached convergence on the support/resistance lines and XLM is trying to break out of this falling wedge. This should signal Bullish continuation. That being said, we've seen a history of XLM going sideways instead of up during "breakouts," forming pennants for a matter of days.
Watching for pennant formation 460-490. Need to break soft resistance at 530, and solid resistance at 570. With BTC as strong as it is the last 24 hours, it's gonna be tough. Stop loss at 430.
Watching for pennant formation 460-490. Need to break soft resistance at 530, and solid resistance at 570. With BTC as strong as it is the last 24 hours, it's gonna be tough. Stop loss at 430.
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It won't let me show anything smaller than the 15 minute chart, but following the 1 minute chart today, it's looking like we're finally turning the corner and should be on an uptrend - at least a small one. First target - 530.
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