XLM – Bullflag in an uptrend? This Could Be An Easy 150%+.

  • by

XLM had a wonderful pop up at the end of November, since then we look to be in a bullflag.

This is a continuation pattern in uptrend where the price will stagnate or move slightly downwards before we continue upwards and onwards.

We saw a decent amount of volume in the rejection from the upper resistance line, our RSI is near overbought. I suspect we’ll see a downturn towards the bottom of the bullflag potentially presenting us a pretty decent buying opportunity around the .15 mark.

That said we do have a short term uptrend line formed under the price, if we can keep this, it might point to a quick breakout from the bullflag. Don’t really see this happening but we’ll see!

Dashed targets are my primary targets for Q1 2021, dotted lines are extension targets.

This isn’t financial advice. At least that’s what your mom said the other night.