XLM price movement analysis (cnt'd)
Quick update: compared to the analysis in our last graph, we see that the MACD is now a small time unit away from making the golden cross in the MACD. This is a very bullish sign. Moreover, in the meanwhile, the Fibonnacci support has held ground and XLM price has actually moved up from 0.00035 to around 0.00046, which is like a 25%+ upward move already. CCI also confirmed this upward move.
What will happen next depends a bit on the smaller trade range so we should be zooming in - but no time at the moment to make that analysis. In any case, the story keeps boding well for the near future, although we can still have a fall back to the Fibonnacci support.
What will happen next depends a bit on the smaller trade range so we should be zooming in - but no time at the moment to make that analysis. In any case, the story keeps boding well for the near future, although we can still have a fall back to the Fibonnacci support.
Comment:
Almost forgot: as you can see, price movement actually broke the resistance line of the downward channel, question is: will it hold, volume still seems to be a bit on the low side.
