XLM moved 7% up. Does it have potential?
Hello, dear TradingView members.
This is an XLM idea.
XLM moved 7% up and is now one of the top gainers. Since this coin is in a rally right now, there are more targets it can reach, but before that, it might get rejected by a few resistance levels.
Scenario One:
The price will either use this resistance as support or land on the previous support level and move back up for a retest.
Scenario Two:
For now, the local resistance level will push the price back down to the lower support level.
RSI is oversold, and the price has more room to go down.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This is an XLM idea.
XLM moved 7% up and is now one of the top gainers. Since this coin is in a rally right now, there are more targets it can reach, but before that, it might get rejected by a few resistance levels.
Scenario One:
The price will either use this resistance as support or land on the previous support level and move back up for a retest.
Scenario Two:
For now, the local resistance level will push the price back down to the lower support level.
RSI is oversold, and the price has more room to go down.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
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