Another update on my XLM chart. So far still going according to my pevrious ideas.
Now looking at a ascending triangle being formed which might be the signal the bearish trend ended and a bullish trend is on the way.
It all depends on breaking the support line at around 3400 sats. If that resistance line is broken it will act as support and gives a clearer signal of a bull trend.
It will also go into the kumo cloud and for the last 2 days we see the EMA supporting the uptrend as well.
RSI levels are very bullish still.
Based on the next levels of support and the size of the triangle i would set a new target between 4000 sats and 4200 sats.
It's difficult to predict when exactly it will reach this as i would not be surprised to see a slight downtrend (-5% - 8%) before it goes up and breaks the 3400 resistance line.
On the FA side there is alot of good news coming out from IBM in the coming days. That should help as well.
Now looking at a ascending triangle being formed which might be the signal the bearish trend ended and a bullish trend is on the way.
It all depends on breaking the support line at around 3400 sats. If that resistance line is broken it will act as support and gives a clearer signal of a bull trend.
It will also go into the kumo cloud and for the last 2 days we see the EMA supporting the uptrend as well.
RSI levels are very bullish still.
Based on the next levels of support and the size of the triangle i would set a new target between 4000 sats and 4200 sats.
It's difficult to predict when exactly it will reach this as i would not be surprised to see a slight downtrend (-5% - 8%) before it goes up and breaks the 3400 resistance line.
On the FA side there is alot of good news coming out from IBM in the coming days. That should help as well.