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XLMUSD Is this its Cycle Top??
Stellar (XLMUSD) is picking up the bullish sentiment today having just completed a Golden Cross on the 1W time-frame. Last time we viewed this (November 01 2024, see chart below), we gave a strong buy signal, which paid off immediately:
Having failed to cross above the Lower Highs trend-line though, we are now more concerned as the last 1W Golden Cross (March 01 2021) was formed just 40 days before the Top of the previous Bull Cycle.
As long as the price trades below the Lower Highs trend-line, the probability for a new bearish move is strengthened. What is also supporting this is that the 1W RSI resembles the pattern of both the May 2021 and January 2018 Cycle Tops.
At the same time though, it is quite similar to the May - September 2017 RSI pattern, whose XLM price action was nothing but a Bull Flag that after touching the 1W MA50 (blue trend-line), rebounded aggressively above the 1.618 Fibonacci extension slightly to form the Jan 2018 Cycle Top.
As a result, we recommend to resume buying only if the price breaks above the Lower Highs trend-line and target 2.2500 (the 1.618 Fib extension).
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#XLM #XLMUSD #stellar #XLMUSDT #signals
Having failed to cross above the Lower Highs trend-line though, we are now more concerned as the last 1W Golden Cross (March 01 2021) was formed just 40 days before the Top of the previous Bull Cycle.
As long as the price trades below the Lower Highs trend-line, the probability for a new bearish move is strengthened. What is also supporting this is that the 1W RSI resembles the pattern of both the May 2021 and January 2018 Cycle Tops.
At the same time though, it is quite similar to the May - September 2017 RSI pattern, whose XLM price action was nothing but a Bull Flag that after touching the 1W MA50 (blue trend-line), rebounded aggressively above the 1.618 Fibonacci extension slightly to form the Jan 2018 Cycle Top.
As a result, we recommend to resume buying only if the price breaks above the Lower Highs trend-line and target 2.2500 (the 1.618 Fib extension).
Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea!
#XLM #XLMUSD #stellar #XLMUSDT #signals
$XLM Surprising Price Action – What’s Next? 🚀
I’m a bit surprised that the price is following the direction of my previous forecast, but here’s what we’re looking at now:
📉 If the Breakout Fails:
The correction may not be complete yet, and we could see a downward reversal.
📈 If the Breakout is Solid:
A strong high-volume breakout could lead to a nice ride upward. Remember, “Ride the trend until it bends.”
Stay tuned for updates and be ready to act! #XLMUSD
I’m a bit surprised that the price is following the direction of my previous forecast, but here’s what we’re looking at now:
📉 If the Breakout Fails:
The correction may not be complete yet, and we could see a downward reversal.
📈 If the Breakout is Solid:
A strong high-volume breakout could lead to a nice ride upward. Remember, “Ride the trend until it bends.”
Stay tuned for updates and be ready to act! #XLMUSD
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