XLM had an increase of over +600% in just 20 days followed by a 15-day consolidation phase suggests an exhaustion of the previous trend. The sideways movement aligns with an ABC correction, where wave C is likely unfolding.
Key Levels and Confluence
Trend-Based Fibonacci Extensions:
1:1 Target for Wave C: $0.3873
Key Support Zone:
$0.3725−$0.3873
Market Sentiment
Lack of Volume: Reflects reduced interest from buyers, confirming a bearish bias.
Below Weekly and Monthly Opens: These levels often act as dynamic resistance, showing bears are in control for now.
Key Levels and Confluence
Trend-Based Fibonacci Extensions:
1:1 Target for Wave C: $0.3873
Key Support Zone:
$0.3725−$0.3873
Market Sentiment
Lack of Volume: Reflects reduced interest from buyers, confirming a bearish bias.
Below Weekly and Monthly Opens: These levels often act as dynamic resistance, showing bears are in control for now.
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🏆 Mastering Fibonacci for precision trading
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
🔹 Sharing high-probability trade setups
⚡ Unlock the power of technical analysis!
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.