You can see the uptrend channels on the chart, but more immediately XLM seems to be in a downward bull flag.
It's possible it could bounce at the support around 4000 before breaking out, but I think it will actually drop to around 3300 before the uptrend resumes. It would then need to test the 5000 range before moving on to 6200. These are not projected buy/sell targets or trade advice - just my perspective.
A close above 4620 (marked by green arrow on the chart) would potentially confirm early breakout. However it would need a lot more volume for that to happen. Therefore my view is:
Long term - Up
Short/Mid term - Down
It's possible it could bounce at the support around 4000 before breaking out, but I think it will actually drop to around 3300 before the uptrend resumes. It would then need to test the 5000 range before moving on to 6200. These are not projected buy/sell targets or trade advice - just my perspective.
A close above 4620 (marked by green arrow on the chart) would potentially confirm early breakout. However it would need a lot more volume for that to happen. Therefore my view is:
Long term - Up
Short/Mid term - Down
Comment:
1/20/18 -- Looks like it may have found support at 4000. Look for confirmation upward in 2-3 days.