Bounced hard from the bottom retest! Now stuck below the previous "must hold" level. If this turns into a resistance #EVAA will likely enter in a longer consolidation.
Bull targets are still possible but time is now impossible to predict!
The plan has not changed. We're still holding the floor. Remember the "manipulation phase"? This is exactly what we're doing atm... Time is impossible to predict but when this thing reverses the bounce will be epic.
$XLM is trading inside a symmetrical triangle on the daily timeframe, with price continuing to coil between higher lows and lower highs. A breakout from this structure could set the direction for the next major move.
I'm expecting $XLM to do a breakout here. A strong close above resistance could trigger a bullish expansion, while a rejection would keep the consolidation intact.
We finally got a break above the descending trendline, but the breakout came on weak volume, so it isn't confirmed yet.
🟢Bullish scenario:
Price holds above the broken trendline. Buyers step in with higher volume. A few strong bullish candles would confirm the breakout and significantly increase the odds of a recovery rally.
⚠️Bearish scenario:
If volume remains weak and price falls back below the trendline, this could turn into a false breakout, with another retest of the lows becoming likely.
For now, I'm waiting for confirmation rather than chasing the breakout. Strong bullish candles with increasing volume are what we need to validate the move.📈