Is XLM getting ready for a move back to the upside ? IMO yes.
My target the high of this year.
Reason why the trend reversed ?
° RSI broke out of it's pattern it was in.
° Currently we have a bullish engolving candle on the daily.
° MACD has been converging since yesterday.
Reasons why we would see further downside uhm
° Support area from the "left shoulder" hasn't been hit yet
This is the 618 and hasn't been hit yet. ( I think don't remember that good xD )
° Downtrend on chart hasn't been broken yet. ( If you'd draw the resistance like I did )
° We broke down from the uptrend we where in, THIS NOW IS RESISTANCE! ( Big red line )
Not financial advise, do your own research.
My target the high of this year.
Reason why the trend reversed ?
° RSI broke out of it's pattern it was in.
° Currently we have a bullish engolving candle on the daily.
° MACD has been converging since yesterday.
Reasons why we would see further downside uhm
° Support area from the "left shoulder" hasn't been hit yet
This is the 618 and hasn't been hit yet. ( I think don't remember that good xD )
° Downtrend on chart hasn't been broken yet. ( If you'd draw the resistance like I did )
° We broke down from the uptrend we where in, THIS NOW IS RESISTANCE! ( Big red line )
Not financial advise, do your own research.
MACD still looking good next up breaking the trendline ...