XLM - Neutral/Bullish - possible long or dip?
XLM is currently at a key level. If we can hold this level we are at least good for the time being in my opinion. I am currently neutral as I think there could be an apportunity for a long or a short here. After last ATH bulls found fairly strong resistance at .382 fib and equally strong support at .5 fib and we are currently hovering above the previous resistance, if this can hold as support (which over the past 2 days has done) then I think we are good to retest the $0.40 but may find some resistance along the way around $0.30 - $0.35 (.236 fib) If we can hold then its onwards and upwards IMO.
However, we went for a brief try at the .5 fib but bounced back almost up to .236 within a day so if the current level breaks downwards then I would expect the next support at around $0.18 ....... I think there may even be some sideways movement so for now I am monitoring this.
Rememeber, always DYOR and I am not a financial advisor and this is not financial advice. I am just a normal guy documenting my way through the Cryptosphere and learning along the way.
However, we went for a brief try at the .5 fib but bounced back almost up to .236 within a day so if the current level breaks downwards then I would expect the next support at around $0.18 ....... I think there may even be some sideways movement so for now I am monitoring this.
Rememeber, always DYOR and I am not a financial advisor and this is not financial advice. I am just a normal guy documenting my way through the Cryptosphere and learning along the way.
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