XLMUSD -- STELLAR UPDATETHIS IS AN IMPORTANT MOMENT FOR XLMUSD,
WE COULD SEE A BREAK OUT SOON SO WATCH OUT
LIKE, COMMENT AND FOLLOW
Xlmusdtechnicalanalysis
XLMUSD - 1D Chart AnalysisAfter the Bullish trend which started on the 2nd of November, it seems that we have a crossroads again, as long as we are about to register the 3rd consecutive day of decreasing and the price is now "testing" the 20 days Moving Average which has the same value as the Support Level 1 of 0.2435$
For the ones who will consider a higher level of risk, the basic reading of the RSI and the Stochastic (which are returning from their "overbought' positions") together with the trading volumes which are decreasing, can be enough for opening a Sell position looking for jumping the gun.
At this stage the risk comes from the possible "bounce back" of the price from the support level of 0.2435$ and it's "survival" between the 20 days Moving Average and the upper standard deviation of the Bollinger Bands, scenario in which the Sell position mentioned before will represent a loss.
But for the ones who prefer to wait for the downtrend to be confirmed, they can open the "Sell" position once (if) the price will go through the support level and also if the MACD's crossover will indicate the same direction.
For now, it seems we have only 2 possible scenarios :
* If the price will continue the decrease, we can consider 0.2230$ as a possible next "Stop".
* If the price will not break the support level, there are big chances to assist to the bullish trend continuation, situation in which we can consider 0.2770 as a target price in the following future.
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STELLAR (XLM) the only COIN with real POTENTIAL ?XLM is looking very different compared to the other coins. While BTC and Co. have dropped by an average of over 5% per day in the past few weeks, XLM is one of the only that is positive.
XLMUSD to test Resistance from May-2018 (Medium Risk) >300 pipsStellar has tested successfully the Support from May 2018 and bounced back up. Give the downwards trend of all Cryptos including BTC, it is likely to see another test of the line and maybe a breakthrough. However, Cryptos are very dependent on news, therefore any good news may take over the normal course of the Trend Analysis and bounce up again.
Moreover, the two semicircles colored in yellow show an interesting pattern evolving with periodical touches of the line. However, this pattern is coming to an end soon and we will se in which direction it will boom, but its for sure that when it comes out of it it will set a direction for some weeks.
Let me know if you like the idea and maybe have some comments too.
Medium term projection: short, then bounce to 0.5 FiboThe price is on a crystal clear 4H Channel Down which is now pricing a Lower High (RSI = 45.400, Highs/Lows = 0, B/BP = -0.0080). Based on the Fibonacci retracement levels of the previous Channel Down, XLM should make a Lower Low on this Channel near 0.21539646 (which is our TP). After that it should rebound to the 0.50 Fibonacci (0.29077738), before possibly a new Channel Down.
(Sell Stellar Lumens) XLMUSD Technical Analysis for May 7, 2018Hello Traders,
Clear rejection of higher highs at 50 cents. Because of that stochastic sell signal and a break below the middle BB, we might see prices going lower and as such 30 cents is our ideal bear target before prices recover and edge towards 70 cents.
(Buy) Stellar Lumens (XLMUSD) Technical Analysis for April 19Hello Traders,
The daily chart provides a perfect glimpse of Stellar Lumens price action and as you can see, XLM buyers are on top.
Regardless of this strong Stellar buy pressure, proponents are yet to cash out and as long as stochastics remain bullish, that target-$0.40-might be tested today. After $0.40, early buyers can look move their stops to break even and wait for $0.5 if need be.
I originally published this article at NewsBTC under Dalmas Ngetich
