XLM might have had started a broad wave V against ETH with reversing at approx. 0.000335 level which is reversal from 0.236 level of wave III. Targets potentially can be 1.272 extension (0.00135) or 1.414 extension (0.00148) levels of wave III.
Wave II. was correction to 0.382 level of wave I. approximately.
RSI is above 60 though volume is low.
A lower timeframe trade setup may be developing and I will share my thoughts in a separate idea.
These are my personal views and analysis only – alternative wave count may exist and be identified. Please do your own research and trade carefully!
Thank you for the likes and follows!!!
Wave II. was correction to 0.382 level of wave I. approximately.
RSI is above 60 though volume is low.
A lower timeframe trade setup may be developing and I will share my thoughts in a separate idea.
These are my personal views and analysis only – alternative wave count may exist and be identified. Please do your own research and trade carefully!
Thank you for the likes and follows!!!
Note
At an important point. 0.618 level of previous short-term bullish swing that overlaps with 0.5 of wave III and at short term trend line. Should reverse here OR may correct further. Next level then could be 0.00048 which is 0.382 fib of previous short-term bullish swing and wave III.
See daily:
Note
Update - is still looking valid. Broke bearish trendline. Target on the screenshot - 1.272 fib of wave III.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.