XLM has been ranging between support and resistance lines for some time and also corrected nicely (see my last idea). Now we find ourselves in a nice ascending triangle brushing off the local resistance which I expect to break and we go higher to $0.30.
If we manage that, then we're clear to go to $0.32 and perhaps beyond. XLM has been quite timid lately, hence, a big green candle could happen soon.
Bearish case seems more unlikely as XLM has respected support lines quite well which provided good entry opportunities. We also corrected recently over 30%.
We are also curving up on daily indicators, therefore, this move up should have legs with a bit more volume, which we lack right now.
Expect a reaction soon from this blue triangle.
Like and follow if you liked this idea!
If we manage that, then we're clear to go to $0.32 and perhaps beyond. XLM has been quite timid lately, hence, a big green candle could happen soon.
Bearish case seems more unlikely as XLM has respected support lines quite well which provided good entry opportunities. We also corrected recently over 30%.
We are also curving up on daily indicators, therefore, this move up should have legs with a bit more volume, which we lack right now.
Expect a reaction soon from this blue triangle.
Like and follow if you liked this idea!
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