Dear traders,
Today a short analysis on XLM, stellar.
In this rally we only have bullish signals for XLM:
1) Look at the volume which is at its highest level in the last months: people it's back buying this days.
2) Rsi is growing. Expecting a correction now but this is bullish for the med term.
3) EMA200 has been broken twice in the past months: as you can see in the red rectangles this time it has breaken more than double than the previous ones. The last breakouts were followed by big dumps: as this time the breakout it's bigger, we expect the dump won't come.
We set up our buy-ins at the bottom of the green rectangle, we expect another leg up from there.
If the RSI breaks the support and the price breaks the green area, then the bullish input could be gone.
I will keep you updated on this
BFCM
Today a short analysis on XLM, stellar.
In this rally we only have bullish signals for XLM:
1) Look at the volume which is at its highest level in the last months: people it's back buying this days.
2) Rsi is growing. Expecting a correction now but this is bullish for the med term.
3) EMA200 has been broken twice in the past months: as you can see in the red rectangles this time it has breaken more than double than the previous ones. The last breakouts were followed by big dumps: as this time the breakout it's bigger, we expect the dump won't come.
We set up our buy-ins at the bottom of the green rectangle, we expect another leg up from there.
If the RSI breaks the support and the price breaks the green area, then the bullish input could be gone.
I will keep you updated on this
BFCM