Here's what happened when $XPL sat in the same range for eight straight months and finally started moving today.
Traders hate these prolonged consolidations because you either miss the breakout or get wrecked by the next unlock dump.
$XPL has been trapped in this tight range for almost eight months now. The recent uptick looks promising on the surface, but I've got a spot position just waiting to see if those so-called bullish unlocks in a few days actually deliver. This is purely a medium timeframe trade with no expectation of a run back to $1 anytime soon.
The real risk here is that unlocks often introduce selling pressure instead of the hoped-for rally, especially if $BTC and $ETH stay choppy. Most people overlook how these events can extend the range even longer or trigger a breakdown that wipes out the recent gains.
Where do you think $XPL goes from here once those unlocks hit?
#Altcoins #XPL #Unlocks
Traders hate these prolonged consolidations because you either miss the breakout or get wrecked by the next unlock dump.
$XPL has been trapped in this tight range for almost eight months now. The recent uptick looks promising on the surface, but I've got a spot position just waiting to see if those so-called bullish unlocks in a few days actually deliver. This is purely a medium timeframe trade with no expectation of a run back to $1 anytime soon.
The real risk here is that unlocks often introduce selling pressure instead of the hoped-for rally, especially if $BTC and $ETH stay choppy. Most people overlook how these events can extend the range even longer or trigger a breakdown that wipes out the recent gains.
Where do you think $XPL goes from here once those unlocks hit?
#Altcoins #XPL #Unlocks
