What does ZRX Coinbase tell us about XLM?
- ZRX’s listing on the 16th October saw a 48% increase from $0.70 to $1.04
- XLM, BAT & ADA are the remaining coins to be added to Coinbase
- What level should I buy XLM?
- What level should I take profit?
ZRX was recently listed on Coinbase less than 2 days ago. The coin skyrocketed close to 50% before falling 15%. XLM is one of the coins that is set to be released on coinbase over the next several days. This is best explained by the Price action that is illustrating it is refusing to dump, climbing close to 13% over the same time.
What level should I buy XLM?
- XLM has been steadily increasing to the tune of 12% since the ZRX listing.
- Volume is constrained, trending well below the 90 Day Average.
- Technical analysis speaking, on the Renko – can be seen below – it is refusing to go below the 15D Average.
- Any re-set of XLM falling will see it go between $0.22-0.235 according to Fib 0.5 Line.
- Trendline set from late June – start of an increasingly positive Alt-Market has seen that if XLM does crash it will crash to just above $0.19.
All in all, one should set an entry level depending on their urgency from above $0.20 to 0.235.
Specifically, a recommended position will be from 0.235 to 0.24 – However, an addition to coinbase may be within the next several days to 3 Weeks and it could see XLM pump 50% to 0.35.
A take profit of 0.35 has been given.
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