XEN Looking Ready For Potential Reversal?
XEN has been a tricky project to track on the chart. As the supply slowly increases with minting lockups ending at random times a true bottom or cycle is probably not possible to forcast BUT buying and selling patterns certainly are.
This is a daily chart and looking at the wave trend oscillator we can see momentum curved to the downside and is hitting an area time wise we would expect a bottom. The waves are deep in the over sold area along with money flow deep in the red.
Bullish signal would be the money flow showing signs of divergence. Money flow slightly rising while price is still going down. Also looking at the local down trend it has perfect curvature to the downside and when time and price are square the trend is exausted and will change.
This is a very low liquidity asset and requires a completely different style of trading than typically leverage plays. Best to DCA in key area that have a stong chance of reversal.
IF the crypto market as a hole is going to push up XEN was certainly a major bear market mover and has some fundementals to back it up. Inspite of constant inflation from minting it managed to pull a near 1300% rally in the bear market. It has support......
Current trading plan is to being scaling in by DCA in the current price range and target the marked areas above.
For target confluence the golden pocket of our nasty down trend is aligning quite nicely with the 200 day EMA which is also magically in the last consolidation area.
Trade Well..........Join Us
This is a daily chart and looking at the wave trend oscillator we can see momentum curved to the downside and is hitting an area time wise we would expect a bottom. The waves are deep in the over sold area along with money flow deep in the red.
Bullish signal would be the money flow showing signs of divergence. Money flow slightly rising while price is still going down. Also looking at the local down trend it has perfect curvature to the downside and when time and price are square the trend is exausted and will change.
This is a very low liquidity asset and requires a completely different style of trading than typically leverage plays. Best to DCA in key area that have a stong chance of reversal.
IF the crypto market as a hole is going to push up XEN was certainly a major bear market mover and has some fundementals to back it up. Inspite of constant inflation from minting it managed to pull a near 1300% rally in the bear market. It has support......
Current trading plan is to being scaling in by DCA in the current price range and target the marked areas above.
For target confluence the golden pocket of our nasty down trend is aligning quite nicely with the 200 day EMA which is also magically in the last consolidation area.
Trade Well..........Join Us
