From the 50,000 ft view, you can observe the general uptrend and the general downtrend of Stellar (XLM).
We can observe where XLM tested the floor at $0.31 and is nearing it's next ceiling at $0.41. I'm predicting that if XLM breaks through to $0.425-0.44 we will see a continued rally to the next support level at $0.55 where the ceiling will be tested again and could continue the general uptrend towards $1.00 within the next 1-3 months.
On the flip side, I believe if we see XLM fail to break through this ceiling at $0.41, we will most likely watch it to continue the fall to support levels of $0.31, and even as low as $0.10 (following the general downtrend) within the next 1-3 months.
If you buy now at $0.41, I'd suggest a stop loss around $0.35 and wait to see if the downtrend continues below $0.3. Otherwise, look for profit taking at support levels of $0.55 and $0.74-0.75 in the short run and long term potential (6-18 months) around $1.00+.
We can observe where XLM tested the floor at $0.31 and is nearing it's next ceiling at $0.41. I'm predicting that if XLM breaks through to $0.425-0.44 we will see a continued rally to the next support level at $0.55 where the ceiling will be tested again and could continue the general uptrend towards $1.00 within the next 1-3 months.
On the flip side, I believe if we see XLM fail to break through this ceiling at $0.41, we will most likely watch it to continue the fall to support levels of $0.31, and even as low as $0.10 (following the general downtrend) within the next 1-3 months.
If you buy now at $0.41, I'd suggest a stop loss around $0.35 and wait to see if the downtrend continues below $0.3. Otherwise, look for profit taking at support levels of $0.55 and $0.74-0.75 in the short run and long term potential (6-18 months) around $1.00+.