The current position, the price touched the Support Trendline and Horizontal Line (meeting of two supports). A trendline requires 2 connecting points, but the two points are still temporary because they have to be tested a third time to be valid.
When the 2 connecting points meet the starting point and the first touch, the trendline is still tentative, but at that time what happened at XEMBTC was able to increase 255%. Furthermore, the trendline is retested (touch 2) and is valid to increase by 226%.
Currently the same trendline is being retested. An ideal trendline should be able to bounce off at least 50% when touched. The first touch is so tempting, the next is up to you, Happy Weekend 😍😇🙏
So XEM is down 69% against satoshi from previous ATH. Looks absolutely terrible, like CRO (on Bittrex, very similar dumpings)
You say that it should bounce (dead cat likely) 50%..
SO 50% from here is around 860 sats. Which is "tempting" (to exit)
But you are predicting a 226% rise from here which gives the target of around 1860. But no timeline.
Nearly every coin will pump 226%+ from here. Are you brave enough to give estimate, because if xem stays in this range and does not get back over 1k, by end of the month, it will have burned everyone and no one is going to touch it. Too many better looking coins out there, this dump was too hard, too fast, now most think team have done exit scam.
natasukma
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@LadaToLambo, I'm not saying XEM is up 226% from its current position. An increase of 226% has occurred when the price touched the trendline support early January 2021. If the support trendline can hold the decline rate as happened in the previous period, the uptrend can still be continued and a 50% increase from the current position is possible.
LadaToLambo
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@natasukma, aaah, thank you for the clarification. I was just reading XEM is at the huge Fin/Sum meeting in Japan on Tuesday and the CEO will be taking stage there, i expect big news for XEM and XYM soon after. Time to fill bags is now! 580 Satoshi---- ALL IN!
natasukma
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@LadaToLambo, Bounce 75% from support trendline :)
natasukma
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Bounce 75% from support trendline :)
Funfunction1
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nice idea! lets wait and see if history repeats itself. Will take a few weeks is my guess.
natasukma
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@Funfunction1, Thank you. Good guess, hope history repeats itself. 😇🙏
You say that it should bounce (dead cat likely) 50%..
SO 50% from here is around 860 sats. Which is "tempting" (to exit)
But you are predicting a 226% rise from here which gives the target of around 1860. But no timeline.
Nearly every coin will pump 226%+ from here. Are you brave enough to give estimate, because if xem stays in this range and does not get back over 1k, by end of the month, it will have burned everyone and no one is going to touch it. Too many better looking coins out there, this dump was too hard, too fast, now most think team have done exit scam.