XLM chart

How I am seeing it right now

Note

chart is still holding. I updated the the grey battle zone to reflect where we are now which I think is an ancient zone that established on the monthly

Note

Note

and here is that monthly chart

Note

Nice strong move on break of that ancient resistance zone, and a rejection off from the 20W SMA. I think this will be short lived ad the chart is moving toward printing a doji right on the 20W. My base case is that this week closes just at or slightly above the 20W

Note

XLM is still fighting the 20W SMA. In the process is is forming a nice bull flag. Right now it is approaching the SMA to challenge it again. My bias is for this to be the breakthrough time.

Note

nice clean strong break, looking good

Note

extension up to the channel center, rejection, and heading for a back test on the 20W SMA. Key zones on the chart are holding.

Note

the 20 didn't hold, and xlm went all the way down to the cross of ancient resistance and channel bottom. This is actually more healthy for the chart as it is the first back test of this grey zone since the last break

Note

NutFarm

Also on:

NutFarm

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.