XLM rallied 40% during the conference, and dumped afterwards.
I've been keeping an eye on it since then, and have noticed an interesting pattern.
It could be forming a giant cup and handle with floor of roughly 650 sats. This is supported by its repeated bearish breakouts of triangles. It is also falling at a decreasing rate, but continues to respect the relatively loose arc i've spotted on it. Please note, a cup and handle is VERY difficult to call before the uptrend part begins, so I'd advise against buying in before it reverses trend, as it could go a lot lower. You can use my Mellow RSI with high settings if you're uncertain, but there are better ways to spot a reversal.
The persistent resistance at the top is a good indicator of when it is likely to pump, should I be correct. If XLM dumps particularly hard before a reversal, it could indicate a more channel-like structure.
As always, don't enter trades you're not comfortable with. Uncomfortable trades result in panicked trades, and scared money don't make money.
I've been keeping an eye on it since then, and have noticed an interesting pattern.
It could be forming a giant cup and handle with floor of roughly 650 sats. This is supported by its repeated bearish breakouts of triangles. It is also falling at a decreasing rate, but continues to respect the relatively loose arc i've spotted on it. Please note, a cup and handle is VERY difficult to call before the uptrend part begins, so I'd advise against buying in before it reverses trend, as it could go a lot lower. You can use my Mellow RSI with high settings if you're uncertain, but there are better ways to spot a reversal.
The persistent resistance at the top is a good indicator of when it is likely to pump, should I be correct. If XLM dumps particularly hard before a reversal, it could indicate a more channel-like structure.
As always, don't enter trades you're not comfortable with. Uncomfortable trades result in panicked trades, and scared money don't make money.