Bears in control of $XLM$XLM update
Price did, in fact, fail to hold key support level of 3k sats. About to close a 7th straight red daily, with today's candle gaining downside momentum.
Its oversold on all timeframes, as you can see on both the RSI and Stoch RSI. So, I wouldn't be surprised to see a relief bounce around the March 2017 swing low at ~2550 sats, which is the yellow dotted line on the chart. I'm not interested in playing it until price finds footing, but if I were looking to get long I'd want to see sellers loosing momentum and buyers stepping in near that swing low area.
Measured move of the failed descending triangle does land around 2250 sats.
-Bueller
Twitter @BuellerFund
Stellarlumens
Is XLM about to tank? ...or are we on the verge of a rebound? Since my last XLMBTC analysis, we broke down and have reached for my bearish targets. Currently, XLM is looking very weak. It looks like it's on the verge of a total wipeout. Below here, we do have some support in the 2500-2600 area, and then bigger support at 2000. However, we appear to be in a bit of a falling wedge, which is a bullish pattern. All throughout 2018, XLM did very well compared to a lot of other alts, but has only recently caught up in terms of lost value. This tells me that the year long pennant was probably distribution. This makes sense, since XLM is one of the coins that saw the biggest gains in 2017.
Even though this looks like it's going to break down, we could have a risky long setup here. It's very possible that the coin has simply been under price suppression and will explode upwards rather quickly. Daily RSI has been in oversold for a while and it hasn't bounced at all since the big breakdown, unlike other coins. XRP has behaved similarly, but has yet to make a new low in both USD and Bitcoin value. A while ago, I speculated that if any coins were going to challenge Bitcoin's market cap, it would be XRP and XLM. Recent price action has told me that the XRP and XLM bulls have vacated the scene....but is that really the case? Maybe they're just waiting. We've reached my initial bearish target of around $0.10. Maybe others have been eyeing this level. Who knows? The market looks pretty horrible at the moment, but sometimes when things look the ugliest, they turn around. Often the time you feel like giving up is the time to keep on pushing.
RISKY LONG:
Buy here or between 2500 and 2600.
Stop loss below 2500, although I don't usually use stop losses in this market if you're day trading, since stop hunts are very frequent.
If we go below 2000, this coin will take a long time to recover.
TARGETS:
3200
3500
3700
4000
5000+
POSSIBLE SHORT SETUP:
Below 2500 or 2000. I guess here would be a risky short, since we're already close to a major support.
Although the best short setup was really the breakdown of 3500. A lot more obvious.
This is not financial advice or a recommendation to buy or sell. I'm not a professional. I'm just a hobby analyst.
Good luck!
-Victor Cobra
Previous XLM analysis:
The fall of Lumens XLMStellar advertises itself as an open-sourced, distributed payments infrastructure, built on the premise that the international community needs “a worldwide financial network open to anyone.” The project is filling this need, connecting individuals, institutions, and payment systems through its platform.
$XLM is on the Buy ZoneIn terms of btc pair, XLM is really juicy at the current. Not only the chart looks so and for the couple of months it gave us a quite clearer projection about the future, that this coin probably repeat the same pattern.
I believe this project will holding a big part in our blockchain environment. XLM founders are the best one in the game. You can see the progress on their social media pages. I see a lot of massive movement even though market has been tough for us.
Preferably, if you buying this right now, it's good, but on the other hand, we need to consider the movement of Bitcoin price. So, if you buy with fiat, it should influence your decision. XLM might just touch 2200 sats. So hold up your fiat, not to go all in. Average buying is still okay from time to time.
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Stellar Lumens SHORTvemos a stellar en tendencia bajista formando un triangulo descendente, en las dos directricez, bajista marco dos juntas , ya que no es solo una simple directriz si no , que es una area gruesa y por lo cual recurro a utilizar dos directrizes en vez de una , para poder demarcar , mejor el area de trabajo , esperemos buscar una buena venta en la parte superior de ese triangulo en la directriz o en las rupturas de los soportes inferiores , por ahora no veo compras!
XLM (Stellar Lumens) Elliot Wave AnalysisHello guys,
XLM started its wave around November 23rd 2018 and finally reached wave (5) December 15th.
Zigzag correction wave to be valid:
1. B wave needs to retrace between 0.786~0.886 of X to A.
2. C to retrace to 1.12~1.272 of B of A.
It is now on 'potential' corrective pattern. Assuming that the wave is playing a zigzag correction pattern, B validates when it retraces to 0.886 exact point from X to (A).
And now heading towards C.
Other things to consider:
1.It also broke out from falling wedge pattern supporting point (B)
2.Has a strong support 2900~3000 area from Jun, July and September.
Stellar Looking Good for a Quick ShortIts been a long, long time since we’ve had the chance to look at $XLM. So, we’re going to take the time to do so now:
In the above chart, we’re in the H4 resolution.
However, before we cover what’s going on in that picture, here’s another one of the same chart resolution with a little more detail added for insight:
In the picture above, we can see:
1. Mini-downtrend resistance that’s just above where the price is now. RSI(14) is already overbought after a ridiculous surge in the past few periods. There’s a chance that exhaustion could be reached with the bulls on this coin, which would lead to a consolidation.
2. The RSI(14) is a big deal. The reason why is included in my annotations for XLM’s RSI on the H4 resolution.
Let’s look at some support and resistance points on this time frame as well:
In the picture above, the two dotted green lines represent two major points of support and resistance.
There is a third, slightly less potent, overhead resistance that must be accounted for as well:
Again, this is the H4 resolution for $XLM (Stellar Lumens) using the Binance Exchange as the source for price data (its the most reliable and where the most volume for $XLM is at).
Putting All of This Together
In my opinion, just the information that we have here is enough for us to come to a conclusion on the position that we want to enter here on $XLM.
My idea here for $XLM is to enter into a short position (temporarily). For those that are subscribed to the Patreon, I’ll explain what my longer term strategy for this coin would be moving forward from this point.
Here is my R/R on the trade:
XLM "STELLAR LUMENS" 3500's INCOMING...Will we hold!?!Hi guys! I have done a quick analysis on XLM.
Make sure to LIKE and FOLLOW as this helps others to discovery my content.
Lets get right to it!
XLM on the DAILY time frame, Stochastic RSI crossing to indicate bullishness
as well as the MACD crossing upwards to indicate Bullish divergence.
On Binance the current volume in BTC is at the time of writing this 1,539.
I will be monitoring the incoming volume on binance in order to see if we can see
enough volume to start a uptrend on XLM. Right now i still am not yet convinced
on this breaking out as i will sit on the sidelines and just watch until i see
XLM move past 3700's following a retrace i will enter on CONFIRMATION!
Thanks, LiquidMEX
DISCLAIMER:!!!This is not to be considered financial advice is my personal opinion, always do your own research before entering or exiting trades as i will not be held liable for any of your trades!!!
XLM Support as strong as Hercules!! We are READY FOR TAKE-OFF XLM shows strong support at level 2930-2970 and has never been broken since April 2017. At this moment XLM is hanging around this same support level and is ready to bounce off to new highs. Expecting a bounce at 2930. New resistance at level 3010 and 3260. Expecting level 5200 somewhere in February or March.
Support Level: 2930 - 2970
Resistance Level: 3010 & 3260
This article is for education usage only.
XLM breakout!Hello!
XLMUSD has been showing some bullish signs after finding support in between the 50-60 % retrace from the miniature bull flag whilst squeezing on the monthly moving average with the drawn trend line signaling a breakout if we have a rally that breaches and closes with a few lines above the MA.
In the case of a breakout we can expect a surge upwards 0.14 level marked with the dotted line before a retest of validity on MA monthly current area, which also is the top of the flag pole. After the retest a surge towards 0.18 can be expected forming a finished BEAR flag in the bigger picture signaling a down move.
If the breakout fails (small bear flag completion) at the break of the the trend line expect a move to the 0.10 (if worse 0.05) level forming a double bottom (if 0.05 its a stop loss hunt for larger orders) where most likely a lot of buy orders will be sitting lurking for an opportunity to be filled.
if you like my short summary make sure to like this analysis as i will try to make more of these and update them regularly!
Stellar Lumens - Looking for a BounceHello chaps!
I'm looking at a long here with the first target set at 0.00003270.
My theory is; a double bottom style bounce due to strong previous support on the swing lows.
Now, I know Altcoin support zones are laughably thin, so my stop would be set quite aggressively at around 0.00002830 mark (just under any previous wicks).
RSI might be just teasing us here, but you could be mistaken for a whiff of bullish divergence.
That's all for now. Cheers!
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Getting my feet wet with TA, so I'm open to criticism and willing to listen to any advice from the more seasoned out there.
In the words of Carter Thomas "None of this is professional advice, just a random dude on the internet giving his opinion" :D