The Time is HERE! **CRITICAL ZONE**
This is a follow up on a previous post on the ascending channel on the daily chart. Taking a few more steps back looking at the weekly chart there are few indicators that are flashing *ALERT*
We are coming up to a critical meeting of price level and lower trendline of the ascending channel I mentioned in my last post. I have also circled the number of touches of each trendline upper and lower. Price has touched 3 times on the upper and now 4 times on the lower. XLM is ready to blow. I have heard sentiment of XLM is a stablecoin and will never moon, but I disagree. I believe this next move to be explosive. Technical analysis of the breakout would tell us that the move will be the height of the channel itself putting us at the bottom end around .20 and at the high end around .94 maybe even a dollar with continuation. One thing I did not mention is the RSI. RSI is still screaming overbought (sell) on the weekly, but the level at this moment in time has leveled out from the earlier decline.
In summary, this thing is primed and ready to blow. Get a plan together for yourself and trade wisely!
I am not a professional trader by any means. All comments are greatly appreciated. Let me know what you think below.
- Waddah Attar - The green candle has fallen below the Explosion Level (Yellow Line). Should the next candle stay below the Explosion Level this would be a conventional sell signal from this indicator.
- VPVR - Price action is teetering on this heavy volume support line. Should price action slip it could be a slippery slope to .34 or lower.
- MacD - Upward pressure is continuing to weaken
We are coming up to a critical meeting of price level and lower trendline of the ascending channel I mentioned in my last post. I have also circled the number of touches of each trendline upper and lower. Price has touched 3 times on the upper and now 4 times on the lower. XLM is ready to blow. I have heard sentiment of XLM is a stablecoin and will never moon, but I disagree. I believe this next move to be explosive. Technical analysis of the breakout would tell us that the move will be the height of the channel itself putting us at the bottom end around .20 and at the high end around .94 maybe even a dollar with continuation. One thing I did not mention is the RSI. RSI is still screaming overbought (sell) on the weekly, but the level at this moment in time has leveled out from the earlier decline.
In summary, this thing is primed and ready to blow. Get a plan together for yourself and trade wisely!
I am not a professional trader by any means. All comments are greatly appreciated. Let me know what you think below.
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