Looks like XLM is currently sitting nicely right above the green trend line. This green trend line has been quite reactionary since Dec 17.
MACD and RSI are looking slightly bullish. Although we need to see volume to confirm the break out. If XLM holds above the green trend line and break out of the descending triangle, it is likely XLM will go above $0.43.
MACD and RSI are looking slightly bullish. Although we need to see volume to confirm the break out. If XLM holds above the green trend line and break out of the descending triangle, it is likely XLM will go above $0.43.
Note
Stella broke out of the descending triangle but the volume looks a bit worrying. Plus, recently there has been quite a few false break out for other altcoins like, Siacoin, NEO, TRX...etc. I have taken my 10% profit and now waiting for BTC to confirm break out of the inverse h&s. Until then, I will just sit back and watch.Note
Stellar is now trying to break out of the trend line. By looking at the action, it might break the trendline and stay above the trendline. However, the 200EMA is just above and the RSI is now at 70. The last time RSI was above 70 was at the peak on the 3rd Jan.If Stellar does break the trendline and stay above the trendline for the next few days and the trendline is acting as a support, I will place a buy order and go for long. First aim for $0.62, which is the 50% retrace from the ATH.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.