XLM closely follows XRP's price action. Many investors, traders, and speculators understand that this relationship can provide distinct advantages at times, depending on market circumstances. However, it appears that XLM may have one more liquidation event in mind before the next leg up. Although there is no guarantee that this will occur, I believe it is very likely, as the weak doji candle—currently at the $0.23 cent level—would allow another liquidation event to clear the last remaining remnants of sell-side liquidity currently resting below the previous liquidation candle. I could be wrong, but this is an area to keep your eyes on in the event that the price continues to move downward.
Good luck, and always use a stop-loss!
Good luck, and always use a stop-loss!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.