After a week of consolidating the prior monster run, XLM
2 hour is now trading about the symmetrical triangle. With BTC
finding some support, I would look to XLM
as one of the main benefactors during periods of BTC
sideways action. By technical standards, XLM
has performed beautifully in consolidating and holding its level during the past weeks drama playing in the upper fib retracement areas.
BBands getting tight signifying a potential big move is in the cards soon, MACD
has crossed to bullish
as a lagging confirmation and the OBV does show bullish divergence
here. With the RSI
saying there is plenty of room to run if it wants, XLM
must be on the radar.
Failure of this current breakout would be a 2 hour close below the uppermost resistance line (now turned support).