As described on my post from February 27th, 2021 the retest of support/resistance levels (weekly and monthly) is quite necessary.
There was a good opportunity of profittaking, as mentioned before (buying in at 0,36$ and selling at the monthly resistance level of 0,466$).
We are still within the trading range of 0,36$ and 0,466$. As the interest grows, we could see a second test of the monthly level (0,466$), which might even surpass other weekly and monthly resistance levels - especially since Stellar Lumens has recently introduced new features (Horizon 2.0 / Smart Contracts) and partnerships (fundamental news function as catalysts). The interest in XLM has an odd habit of jumping in an extreme way, so that a 100% increase over a day has happened before.
You can also see on the chart, apart from the trading range, that XLM was / is in a long phase of accumulation (almost a month) and the price has just moved out of a wedge (trend), which of course if fractal information.
As usual, this is no financial advice - just my opinion and to be fair, I am currently invested in #XLM, which does not mean that you should!
I always appreciate constructive critical feedback!
There was a good opportunity of profittaking, as mentioned before (buying in at 0,36$ and selling at the monthly resistance level of 0,466$).
We are still within the trading range of 0,36$ and 0,466$. As the interest grows, we could see a second test of the monthly level (0,466$), which might even surpass other weekly and monthly resistance levels - especially since Stellar Lumens has recently introduced new features (Horizon 2.0 / Smart Contracts) and partnerships (fundamental news function as catalysts). The interest in XLM has an odd habit of jumping in an extreme way, so that a 100% increase over a day has happened before.
You can also see on the chart, apart from the trading range, that XLM was / is in a long phase of accumulation (almost a month) and the price has just moved out of a wedge (trend), which of course if fractal information.
As usual, this is no financial advice - just my opinion and to be fair, I am currently invested in #XLM, which does not mean that you should!
I always appreciate constructive critical feedback!
So far #XLM held on.