After a healthy phase of distribution for XLM the next levels are in reachable sight. The accumulation phase seems to end pretty likey and after reaching 0,466$, testing of 0,50$ we can experience further movements into the higher price zones. Trading volume was increasing in the past days and 0,40$ has functioned as a strong support.
Also, according to the Wyckoff Method this seems to be the trading range before claiming higher highs.
This is no financial advise and trade with care!
Also, according to the Wyckoff Method this seems to be the trading range before claiming higher highs.
This is no financial advise and trade with care!
Trade active
Hopefully you have been able to jump in while XLM was still around 0,36$. Volume is constantly growing (around 60% up) and we have already touched and wicked the resistance at 0,466$ - a nice amount of profit taking. First touch rejection is common 90% of the time. Price has seen support around 0,399$ which was identified as a weekly support level. If everything goes right, we might see the next touch and rejection at 0,50$. Sometimes momentum is very strong and 0,50$ might not even get rejected, but actually broken thru. With that, we could see major increase in demand, channeling up the price.
No financial advice :-)
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Disclaimer
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.