Previous analysis:
Looking very good now, XLM’ bulls have been waking up again and finally seeing some and real movement again. So we broke up from that small triangle on the right and are following the blue line scenario since we broke up strong through that red resistance. Since we are back in the channel chances are increasing that we might test the resistance of that channel and maybe even break up if the market can hold this trend the coming weeks. That big red zone will be the next challenge.
The former blue resistance is the low point from now on, ideally we stay above the 0.087x
That blue zone held perfectly during the Feb dump and has been the low point since. Now assuming bitcoin’ will continue it’s rally coming weeks, XLM’ might have another rally in store for us as well. Think it might a little bit more coming days to form support for a potential right shoulder. I want to see the green support around 0.105 hold. A break of that zone would endanger the whole scenario. Doen’s mean a crash will happen, but the momentum will decrease a lot. The resistance around 0.13 has been a tough one for a few months now, so we want to see increase a bit during the move up of the right shoulder. If the bulls can manage that, we want to see it shoot straight through that red resistance with some high along with it. A slow and small break of that neckline, is not something this market will be able to hold .
Previous analysis:
Published at Sun, 14 Apr 2019 16:17:36 +0000
