Looking at the chart of XLMUSD, we see substantial resistance near 0.86. That resistance comes from both the 50-day moving average and a diagonal Fib resistance line. The Fib resistance structure that dates back to last year has provided strong resistance in XLMUSD. The level we think that a confirmed bottom would be is .98. So, XLM has more work to do before you can say that XLM is joining "Big Coin Season."
Bottom Line: If you can't resist buying, buy a dip. If you want to go with strength, wait until there's a burst above .86. Longer-term players can pile in on a break above .98.
Bottom Line: If you can't resist buying, buy a dip. If you want to go with strength, wait until there's a burst above .86. Longer-term players can pile in on a break above .98.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.