XLMUSDT trade ideas
One last dump before the real pamp?Been closely following XLM for the past year and a half, this coin ALWAYS bear traps before any real pump.
I can almost safely say at this point that we are going to see sub 16 cents before the real pump.
I even think its going to bear trap and form a massive hammer (this could momentally go under 10 cents even imo, but should not be for long, otherwise XLM might be screwed in the longer term).
I am bullish in the long term, but I don't think the dump is over.
This is NOT a financial advice.
XLMUSDTTwo different scenarios for the price of #XLM:
Hello Traders
If the Bitcoin price remains in the current stable position and does not lose its value in the following weeks, we can expect a rise in the price of XLM from its current price (0.2$) to 0.60 - 0.7$ in the next 3 months.
However, if the bitcoin loses its value again, the price will go down to the support area that is 0.13$ which can be a good opportunity for long-term investment. See the image below for more details.
#XLMUSDT 4H Chart
Price previously took out the liquidity resting above the equal highs and moved up aggressively reaching the 6h supply zone at around $0.25 where it got rejected after breaking through the first supply around $0.225. It also left a 2D demand zone on its way up after bouncing from the level of equal lows. MACD is showing bullish weakness, RSI is bought and EMAs are bullish. Price may test the 2D demand around 0.205 before moving up again however it is probable that that will take out the liquidity resting below the equal lows at $0.19 then bounce from the next 1h demand zone around 0.185. Waiting for more confirmation.
$XLM Stellar Bullish ButterflyWe've only made it to the 1.13 so far, and at that point the (C)-(D) leg was too shallow to be a shark , leading me to believe we could see another move down to the 1.27. I do like the confluence there, but if we get some legs here and break back above the inflection, id consider that a failed downthrust, double bottom reversal if can manage a higher high locally and confirm the double bottom. Target on the confirmation would be the measured move, or a 2.0 extension from here.
Stellar (XLM) formed another triangleSMA and price level support:
On the weekly time frame priceline of XLM is above the 200 SMA and $0.18 support levels.
Down channel:
On a daily time frame, XLM has formed a down channel and bounced by the support. Stellar has also broken down simple moving averages with the time period of 25, 50, 100, and 200 on this daily time frame.
Descending triangle:
On an hourly chart, XLM has formed a descending triangle and it can break it soon. In case of breaking out the resistance it can reach the resistance of down channel on daily.