XLM Upcoming short opportunity

Upcoming XLM short opportunity

註釋

Short target seems to reach early. Short range remains valid.

交易進行

The projected trend is accelerated. bearish trend in the investment market at large will pull this down much further and much faster. $0.25 top-out was reached much faster after USDT pumped 300mln into the cryptomarket (Spectacular crash upcoming). 1st target in sight is $0.18 with a high likelihood for much further downside in the next week.

註釋

Next target for XLM, last call for short

註釋

To simplify this chart, I only use line chart at closing.

There was an existing bearish channel as described in my previous analysis. We now developed a descending wedge within this channel. The convergence point is exactly where the next level of support would be - around $0.12

Given the condition of the investment market as a whole, a bullish scenario in the short-term is astronomically impossible.