XLM/EUR Coinbase Parallel Channel
Updated
Another update from a newbie.
XLM left yesterday around 16h (UTC+2) the channel it had been moving since April 6th, and gained some additional momentum leaving also the small channel. After a couple of tries to today's resistance at 0,0538 €, it went easily to the ceiling of the primary channel, where it seems to be facing some resistance. Right now, I wouldn't say we won't see some correction soon and a return to the primary channel (something that will happen sooner or later), after a 17% gain in two days, but the buying strength seems to be huge, at 15M XLM volume in the last 24h. Apart from that, believe me, I don't have a clue.
This is no financial advise. Seriously.
XLM left yesterday around 16h (UTC+2) the channel it had been moving since April 6th, and gained some additional momentum leaving also the small channel. After a couple of tries to today's resistance at 0,0538 €, it went easily to the ceiling of the primary channel, where it seems to be facing some resistance. Right now, I wouldn't say we won't see some correction soon and a return to the primary channel (something that will happen sooner or later), after a 17% gain in two days, but the buying strength seems to be huge, at 15M XLM volume in the last 24h. Apart from that, believe me, I don't have a clue.
This is no financial advise. Seriously.
Note
After reaching 0,05599 €, we've seen some small correction, falling about 2.5% to the top of the channel, from where it *seems* to be rebounding. It's still soon to tell if the correction will be bigger (to R1 at 0,0538 €) or we will move ahead and leave the channel below.
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