XLM BULL FLAG?

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Despite its massive recent surge in price, it looks to me like XLM may be printing a massive bull flag on the 4H timeframe as it gears up for another wave to the upside towards all-time highs.

I have personally converted my BTC into some of the more promising ALTS to use for active trading positions to generate me a bigger return and have been eyeing/trading the likes of LTC, ETC, SOL, and LINK.

I have just recently come across this XLM trade and like what I'm seeing so far. I have yet to enter and will do a deeper analysis below.

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Looking at the Weekly timeframe, XLM was able to surge nearly 600% in a matter or weeks and has retested this yearly resistance level that was set in the previous cycles on Jan 2018 and May 2021.

Currently not i the trade so I'm, keeping a neutral stance and it may be possible that the high has already been set in this cycle and XLM falls into depression.

The RSI at the peak reached massive oversold levels and has been dropping ever since but is still fairly high for my personal liking.

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The crypto momentum is still high and with rate cuts poised to be cut and alt season yet to take full affect, XLM has the potential of more upside still though.

We Surged nearly 600% and have corrected a healthy ~40% so far in confluence with the w0.5 FIB level

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I am keeping my eye on this weekly level that we are sitting on

which is perfectly coinciding with this 0.382 FIB level on this daily chart

RSI looking good on the daily and 50 EMA catching up

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A breakout from here can see us shoot over 45% to retest both the previous NOV high and long-term resistance

And a completion of the bull flag will extremely bullishly break the long-term resistance and propel us over 80% to perfectly test the 2021 top

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the 200 EMA was also tested in the 4H chart above.

it does look like we have seen the completion of a ABC correction on the 4H

however from the high to recent low we have reject the 0.382 FIB level that can push us lower if we fail to hold support

Dagangan aktif

i am going to enter here 0.437 just partially and DCA

Nota

that was brutal, glad i only entered in partials, next time i will wait a bit longer, i was bullish going into rate cuts but the market reaction to the FED news today was so bloody. we are holding the weekly level and as long as we do i remain bullish on XLM. good place to DCA or star positioning yourself.

Nota

Breaking the weekly level. lets see how the weekly candle closes. Crypto market looking rough. This is becoming too risky from a technical perspective and will have to close my trade if we see a weekly close below support. Currently seeing equal lows from the previous liquidity grab. that's the only thing left holding this till it dumps massively in my opinion. Need to see a reclaim of support.

We could also see something like this

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testing that 50 EMA on the daily. ideally I want to see us spring up within the coming days, and reclaim support followed by further consolidation

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another perspective.

still in this trade, this daily candle is promising and keeping me in for now, we got that 50 EMA bounce on the daily we were looking for

we are still creating lower lows so i remain cautious in case we get a spill over

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5 hari lalu

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best of luck to those still in this trade i did unfortunately close out during the holidays while i was away, and moved my capital into LTC. It was getting to risky for my own liking.

XLM has managed to turn it around and reclaimed the weekly level i set. Will keep my eye on this

LaMASIA_100

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