XLM turns 0.50 into support
As predicted from previous analysis on XLM,
XLM has bounced off the 0.50 level with high energy, turning this level into a support.
Sideways movement can be expected, as the RSI resets into a more favorable position. Alternatively, it can have enough energy to blast through the 0.60 resistance level, and meet heavy resistance at 0.70 on the upper wedge formation level. Price action as always will confirm analysis.
XLM has bounced off the 0.50 level with high energy, turning this level into a support.
Sideways movement can be expected, as the RSI resets into a more favorable position. Alternatively, it can have enough energy to blast through the 0.60 resistance level, and meet heavy resistance at 0.70 on the upper wedge formation level. Price action as always will confirm analysis.
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.