News XLM/USD Chart Faces a Crossroad of Possibilities This Week

XLM/USD Chart Faces a Crossroad of Possibilities This Week

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There are steep expectations when it comes to future cryptocurrency and digital asset prices. Last year has been very bearish, yet it is still unclear if 2019 will offer any relief in this regard. As far as the XLM price is concerned, traders and speculators lean toward a bullish outlook, although an imminent drop is not impossible either.. That is a rather telling sentiment which may very well spill over to other markets moving forward.

A Breakout in Either Direction

As is usually the case where any financial asset is concerned, the price chart can easily swing in either direction. Although cryptocurrencies and digital assets in this industry usually saw bullish expectations, that is not necessarily the case any longer. The current short-term XLM price predictions are not too promising, although Revalast tries to keep the hope of a positive breakout alive.

As can be seen on this user’s chart, there is a tough time ahead for XLM. If the support fails to break through the resistance levels, an imminent drop to $0.1 per XLM is very likely. A positive swing, however, would send the value to $0.16 in the days and weeks to come. For now, there is no telling which outlook will come true, unfortunately.

The Stairway to 150% Profit

In the cryptocurrency and digital asset world, there is no shortage of people who analyze price charts completely differently. XLM Is no exception in this regard, as the analysis by MahdiAlali is rather intriguing to take a look at. This user expects an ongoing XLM: price uptrend to materialize and identifies key stages which need to be reached in the process.

The first real test – other than maintaining the current support level – comes in the form of hitting $0.14 A successful monster rally could push the XLM price as high as $0.28m assuming resistance at $0.16 and $0.2 is broken effectively. Such a chart would require a massive overall industry reversal, which is something many people are hoping for as of right now.

Prepare for a Shortening

As has become somewhat of the new normal in this volatile industry, at least one trader needs to advocate shorting for any specific currency or asset. For XLM, that user is Abbeycity_1, who genuinely expects a major shorting opportunity to be created in the days to come. A bearish outlook, while not necessarily in line with other charts,  is always viable in terms of balancing people’s expectations.

As such, this particular user expects the value per XLM to drop significantly in the days to come. In fact, it would appear a near 20% drop might materialize and push XLM down to $0.0949. That would certainly be a downer for a lot of traders and speculators, although it remains to be seen what will come of this prediction once everything is said and done.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

Image(s): Shutterstock.com

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