ALTCOINS THAT ARE ACCUMULATING THEIR STRENGTH AFTER SLEEPING: WHAT’S NEXT?
#XLM SLEEPING FOR 855 DAYS WHEN WILL ITS NEXT BIG MOVE BE?
XLM has been showing more signs of trading within its usual ranging market structure from 0.0725-0.1525. This market movement has been ongoing for 855 days, this goes to show that the stability of this token has provided opportunities for day traders who are into secure daily open and closes. Right now, we're still validating the possibility that it might continue with its usual ranging market albeit the fact that it has stayed dormant for a very long time will be considered as an extreme factor for a possible massive movement in the near future. If you want to join the day traders who are doing the same thing for 855 days, you may do so and continue observing the market while taking some profits from this kind of market structure for your setups.
THIS PATTERN SHOWS #COMP'S INTENTION TO DO THIS NEXT PRICE ACTION!
COMP has been moving below its major support since the decline that happened from 2020-2022. It continues to move in a ranging market structure below these major supports that once held it. Now, it's accumulating strength and can possibly breakout after some minor and major tests. More demands will continue to show up once the acknowledgement of other traders will pop up within these zones. The more this token experiences its downward strides, it would potentially cause a high bounce to happen. As of the moment the major resistance that was created is still at 100. Anytime soon, this would be broken and will potentially cause another major resistance to be tested.
$COMP
#OM HAS BEEN STAYING ON TOP OF THESE SUPPORTS: BREAK POSSIBLE?
We have reviewed the current market scenario for OM and it's still showing more signs of it being on its markup phase. The price is still sitting on top of the previous resistances broken from 0.63-0.87. These are holding it strongly and the lows it created were 0.88885, 0.83133 & 0.84674. We have also further analyzed the possibility of a breakout scenario where the extreme resistance levels will be tested out highly. These resistances are at 1.64912, 1.90306 & 2.33408 which are filled with concentrated amount of sell orders. Although, many are still doubtful as to when is the possible breakout for OM since there is still a possibility for it to continue moving towards 0.62701-0.76484 before it could potentially pump for another attempt on those resistances. The best solution to identifying its possible breakout is to keep testing it until it will confirm that the resistance has been broken off and it will continue to surge from there. In short, patience, observation and reaction are the keys to perfect market positioning.
$OM
Stay wise, trade cautiously.