Some good indicators here why we could be seeing a rather cheeky bounce from XLM .
~The current can indicate a potential reversal or change of pattern.
~Our supports look like it could hold this level, however it hasn't been tested very frequently, so there is also an equal chance it could break given some other indicators and head to the 3.1k region.
CM Williams Market Bottom Indicator
~In depth analysis: It says it's a bottom.
~Bearish on the .
~Very close to being oversold, meaning more buyers will eventually look to come in and the price could reverse.
~Looking to definitely reverse, I don't think we will cross the 0/ support on this move regardless as it will be a first attempt. Could bring good potential swinging opportunities with any oscillations we are likely to see, and change in momentum after touching the 0/support.
~Moving average is , still on the underside of it. This will be good confirmation of if we bounce and cross the underside of it.
~3934 (just under 4k region) Is my first reccomendation to take profits if you're a swinger. Now is a fine time to buy if you're going long, just wait for some confirmation within tomorrow of where we are heading so you'll know where to wait to pick up that bargain bin XLM .
I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
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Thanks for your insightful post, Xander.