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XLMUSD A Move Upto $0.115 Is Expected In Next Few DaysHey, friends hope you are well and welcome the new update on Stellar. The price action of Stellar has started the completion of handle and after this completion, the formation of Inverse Cup & Handle pattern will be completed. The XLM has also a strong price level resistance at $0.115. Therefore the rally can be up to this level. On daily chart the price action of XLM was moving in a down channel. Recently the price action broke out the resistance of this channel. But the volume is very low. Therefore the price action is retesting the previous resistance as support. In the meanwhile, the priceline of Stellar has also crossed up exponential moving averages with the time period of 10 and 21. And EMA 10 is also crossing up the EMA 21. Now these EMAs and the bull cross between them can be helpful for the priceline to start the next rally to the up side. On the same daily chart it can be observed that previously the priceine of Lumens broke down the simple moving averages with the time period of 25, 50, 100 and 200. Now the price action has broken out the 25 SMA and moving with 200 SMA. The SMA 50 is also moving down to form a death cross with 200 simple moving average that can be coz of more sell off. On the long term weekly chart, the price action of Lumens is like to have a very nice bounce from the support of a rising wedge pattern. Here the support of 50 SMA can be seen exactly at the same level where the XLM has the support of wedge. The 25 simple moving average is moving up to form a bull cross with 100 SMA and this bull cross is the reason that the sell off is not getting increased due to upcoming death cross between 50 SMA and 200 simple moving average on daily chart. If we take a look at the MACD indicator then it has started turning bullish. The stochastic oscillator has also entered in oversold zone. Now if the stochastic will also give bull cross from here the price action can turn strong bullish. Then we can expect the rally in next few days upto the resistance of rising wedge. This resistance is at almost $0.115. Conclusion: The price action has very good supports from daily to weeky chart. However the breakout from the channel on daily chart is not backed by the strong volume. Therefore the price action is re-testing the previous resistance as support. Incase of failure in re-testing the price action may re-enter in previous channel. However sofar I am expecting a rally upto $0.115 in next few days.
KRAKEN:XLMUSDLong
by moon333
1
Stellar Market Buy.Stellar - Intraday - We look to Buy at market Offers ample risk/reward to buy at the market. Previous resistance, now becomes support at 0.0762. A break of 0.0780 is needed to confirm follow through bullish momentum. Posted a bullish Flag formation. A break of 0.0780 is needed to confirm the outlook. Our outlook is bullish. Our profit targets will be 0.0814 and 0.0838 Resistance: 0.0773 / 0.0780 / 0.0820 Support: 0.0760 / 0.0750 / 0.0745 Signal Centre
Long
by Signal_Centre1
1
XLM An inverse Cup & Handle formation at the support of wedgeHey, friends hope you are well and welcome the new update on Stellar. On long term weekly chart the priceline is still at the support of rising wedge and every bearish candle stick is appearing smaller than previous bearish candle, that is clear indication that the sellers are getting weaker. The 50 simple moving average is also working as strong support below the candle sticks and the support of wedge. The price action of Stellar has broken down all SMAs with the time period of 25, 50, 100 and 200 and now likely to consolidate with 200 simple moving average. The 50 SMA has formed bear cross with 100 SMA and moving more down to form death cross with 200 SMA. The priceline of XLM is likely to complete the handle of the Cup & Handle pattern. The resistance of the Cup is at $0.067. During the completion of handle we can expect an upward move but after completion a rally to the down side can be started. The price action of XLM also has price level resistance at $0.115. On daily chart the price action is moving in down channel. In moon phases indicator new dark moon is appeared above support of channel and new full moon is at the resistance. The volume profile is showing less interest of traders from resistance to support of channel and the point of control of volume profile is also at a big distance from resistance of channel. Conclusion: The priceline is having the very strong support of wedge and 50 SMA. The formation of the inverse Cup & Handle is also a bullish signal. But we should use the 50 SMA on the weekly chart as a stop-loss because if this SMA will be broken down then another rally to the downside can be started. Even though there is an expected death cross between 50 and 200 SMAs on daily chart but the support of 50 simple moving average may work as stronger support than this bearish signal of death cross.
KRAKEN:XLMUSDLong
by moon333
XLMUSD | Indicators are turning bullish at support of WedgeOn long term weekly chart the price action of Stellar is still moving in a rising wedge. Even though the candlesticks have spiked beyond the support of wedge but there the 50 simple moving average has provided strong support. This SMA can be helpful for priceline to save the support. On daily chart the priceline has broken down 100 and 200 simple moving averages. But after breaking down 200 SMA the indicators are turning bullish. For example the moving average convergence divergence MACD and stochastic indicators are turned strong bullish and momentum is turned weak bearish from strong bearish. On daily chart the price line of XLM is also moving in down channel. The volume profile of the complete channel is showing very weak interest of the traders at the level where the priceline is moving at the moment. In moon phases indicator the new full moon is also appeared at the high altitude from the resistance of the channel. Therefore the priceline is trying to break out the resistance without touching at the support. On the daily chart the price action has also entered in the potential reversal zone of bullish butterfly and moving up from here. Conclusion: The price action has formed rising wedge on weekly chart, even though this pattern is considered as bearish reversal according to most traders. But due to strong support of SMAs and BAT move on the daily chart we can expect a rally to the upside atleast up the resistance of rising wedge.
KRAKEN:XLMUSD
by moon333
XLMUSD can have bullish reversal from support of rising wedgeHey friends hope you are well and welcome to the new update on Stellar coin. In my previous article we have seen that the XLM was having strong support of 100 simple moving average, then the priceline started more bearish move and at is time it is breaking down the 100 SMA support. Now the priceline of XLM coin is at the support of rising wedge pattern. Even though the rising wedge is considered as bearish reversal pattern among the traders community but there are some optimistic indications I have observed. Now I am going to share these indications with you in this article and after watching these signals you can understand why I am in favor of bullish move rather bearish. The SMAs support and the directional movement: As you can see that I've also placed the simple moving averages with the time period of 25, 50 and 100 on this long term weekly chart. After breaking down the 100 simple moving average the price and has a strong support of 25 SMA the same time it is moving above the support of rising wedge pattern as well. I am not expecting that the 25 simple moving average support will be broken down but in case it will be collapsed then the priceline has 50 simple moving average strong support and the price action can have a bullish reversal from this support as well. If we take a look on the bollinger bands indicator then the lower bands of the bollinger bands is below the support of the rsing wedge pattern therefore the price action has more cushion to drop more down. But the simple moving averages will stop the price action to reach up to the support of Bollinger bands. Now if we take look at the directional movement indicator then the positive direction indicator is still above the negative direction indicator in the ADX is up with the value of 26 that is strong bullish sign on the weekly chart. For the people who don't know about the directional movement indicator I would like to tell them that whenever the blue line that is a positive directional indicator is above the orange line that is negative direction indicator then it is considered as a bullish or buying signal. When we have the orange line that is negative directional indicator above the blue line that is a positive directional indicator then it is considered as bearish or sell signal. The ADX shows the power of bears or bulls. For example at this time we have the positive directional indicator above the negative directional indicator therefore the ADX is showing the power of bulls or buyers but if we would have the orange line that is negative directional indicator above the blue line that is the positive directional indicator then ADX would be showing the power of bears or sellers. Different moving averages, indicators and oscillators on the daily chart: Now if we switch on the daily chart then it can be easily observed that after breaking down the 100 simple moving average the price action is consolidated above the 200 simple moving average and now it is likely to move up from here. Here we should keep in mind that the priceline of Stellar is also having the support of the rising wedge pattern and the 25 simple moving average on the weekly chart as well. The moving average convergence divergence indicator (MACD) has turned weak bearish from strong bearish and if we take a look at the momentum indicator then it is also burned weak bearish. The stochastic indicator also has given bull cross from the oversold zone. Therefore all almost all indicators have started turning bullish on the daily chart. The bigger picture and pivot points: Now I would like to show you more bigger picture on the monthly chart.The protection of XLM was moving in a down channel and from the month of September 2019 the price action started moving sideways then it formed a double bottom and moved up and reached the 25 simple moving average strong resistance level. Here we also have the pivot point on the monthly chart. I have also placed the volume profile on the complete price action moving within this channel and up till so far. It can be easily observed that the point of control of the volume profile is at $0.07 Therefore the price action is moving around this point. It can be also observed that where the price action formed the double bottom at that level we also have the pivot 1st support on the monthly chart. Therefore we can consider this level as the final support level for the price action of Stellar. Conclusion: Even though the price action of XLM is moving in a rising wedge pattern. But it is having very strong supports are the different moving averages on the weekly and on the daily chart. At the same time priceline has strong support of the rising wedge pattern as well. Sofar all the indicators are turning bullish on the daily chart. But the further bullish move to the upside depends on the continuation of this bullish momentum.
KRAKEN:XLMUSDLong
by moon333
3
Is This Drop A Bear Trap Or Correction For New Rally ???Hey friend, hope you are well and welcome to the new update on Stellar coin. The price action of XLM is moving within an up channel since after the mid of March 2020 and I am following this channel since then. The priceline of Stellar has broken down the support of this channel two times. At this time it can be clearly seen that the price action is out of the channel and has broken down the support before this the priceline of XLM broke down this support in the month of June 2020 but re-entered in channel very soon. I've also placed that directional movement indicator. And it can be observed that the -DI has crossed up the +DI that is the bearish signal. But the ADX of directional movement indicator is down its mean that bears are taking control but they are still weak. The 100 SMA can be used as support: Now if we watch the movement of the price action with the combination of this channel and the simple moving averages then it can be noticed that previously in the month of June 2020 when the priceline broke down the support of this channel we had the recent support of 100 simple moving average below the price action. The priceline of Stellar used 100 simple moving average as support and re-entered in the channel again. At this time after breaking down the support we have again the 100 simple moving average as recent support below the priceline, therefore we can expect that the price action will be moved at least up to 100 simple moving average that is at $0.085 at the time of writing. This re-test can lead to a powerful rally to upside or downside: Now if we switched to the long-term weeky chart and place the 25, 50 and 100 simple moving averages. Then we can notice that from April to May 2020 the price action broke out the 25 and 50 simple moving averages and in June 2020 the priceline of XLM re-tested the previous simple moving averages with the time period of 25 and 50 as support and started the next rally to the upside. Now the price action has broken out the 100 simple moving average and this time it is retesting the 100 simple moving average as a support like it has done before. Therefore this movement of Stellar is very important. Because if this retesting will be successful then XLM can start the next bullish rally to the upside. But if the price action will be failed to retest the 100 simple moving average as support then we can observe a further down side rally up to the 25 and 50 simple moving averages. These moving averages are almost at $0.06 at the time of writing. Different support and resistance levels: Now if we watch the different support and resistance levels on the daily chart. Then it can be clearly seen that the priceline of Stellar has been rejected by the $0.11 resistance. After the rejection the priceline broke down the 10 cents resistance level as will this time it was working as a support. At the moment the price action is at the support of $0.09. Now there are two possibilities one is the priceline may start the formation a new parallel channel between the $0.09 to $0.10. Second If the $0.09 support won’t be retained then the price action of XLM can further move to the downside at the support of $0.065. This Big Harmonic Move Can Lead The Stellar To Achieve Highest Price Ever: At the end, I would like to recall a very big BAT pattern that has been formed on the monthly chart by the priceline of Stellar. This is a kind of repetitive move as the price action of XLM formed BAT previously in the year of 2017 on the weekly chart and produced more than 4000% bullish rally. Same as like that move the price action has again formed another bullish BAT. At this time the pattern is bigger than the previous one. Therefore we can expect more powerful bullish rally on the long-term. But realistically as per Fibonacci sequence of bullish BAT the targets can be as below: Potential reversal or buying zone: 0.110 to 0.059 Fibonacci projection or sell zone: 0.23 to 0.41 Conclusion: As the price action is retouching the 100 simple moving average on the long-term. It can be e a very positive gesture but on the other side it can be a very critical as well. Because if the price action will successfully retest the 100 SMA then definitely there will be a powerful bullish rally, but if the 100 simple moving average will be broken down then a powerful bearish to the downside can be started. Therefore it is very important to keep an eye on the movement of the price action above this moving average.
KRAKEN:XLMUSD
by moon333
1
$XLM (Stellar Lumen) Universal digital currency -world currency?Stellar is an open-source network for currencies and payments. Stellar makes it possible to create, send and trade digital representations of all forms of money—dollars, pesos, bitcoin, pretty much anything. It’s designed so all the world’s financial systems can work together on a single network. Stellar has no owner; if anything it’s owned by the public. The software runs across a decentralized, open network and handles millions of transactions each day. Like Bitcoin and Ethereum, Stellar relies on blockchain to keep the network in sync, but the end-user experience is more like cash—Stellar is much faster, cheaper, and more energy-efficient than typical blockchain-based systems. Stellar was made to support digital representations of any currency, but it also has its own built-in token, called the lumen, created to fill a special role in the network. By design, Stellar requires that each account hold a small number of lumens at all times. A unique algorithm, called the Stellar Consensus Protocol (SCP), keeps everything in sync. There are many ways to get agreement across a decentralized system—Bitcoin's visionary proof-of-work method was the first and is still the most famous. But, like many first drafts, proof-of-work left room for improvement. SCP strives to be better by being configurable, fast, and highly energy efficient. If you’re interested in the deep details, you can read the peer-reviewed paper, published by SOSP, the oldest and most prestigious systems conference, for complete technical details.
BITSTAMP:XLMUSDLong
by SlowAndSteadyTrading
4
Lumens To The MoonBINANCE:XLMBTC has risen above resistance, came down and made resistance new support. Since the glorydays of end 2017, begin 2018, Lumens has been on a decline along with most of the other alt coins. When the support of 2000 satochi broke, a decline of more than 70% followed. Since then, the price went sideways for more than 40 weeks. However, with the recent price action, Lumens has made it out of its bear market teritory and now shows strength when it bounced off the green support zone. The target for this break out is at the previous support of 2000 satochi.
Long
by VinanceYT
XLM looking great for a potential trend reversal long term XLMBTC Just broke and retested resistance at 857 on the weekly. Will be looking for a bounce now on the daily for a potential long term long. Market structure started to change on the weekly from around March but haven’t been able to break resistance at 857 until now. Also retesting 20 EMA at the same time. As long as we don’t close below the 20 EMA or support at 857, I will consider opening a long entry with first take profit area at around 1753 for a 100% gain. Potential for much more IMO.
Long
by TradeTravelChill