Stellar Lumens is basically a trampoline factory at this point. Bouncy.
BOING BOING
Some good indicators here why we could be seeing a rather cheeky bounce from XLM.
The Facts
Doji ~The current candlestick can indicate a potential reversal or change of pattern.
Fundamentals ~Our supports look like it could hold this level, however it hasn't been tested very frequently, so there is also an equal chance it could break given some other indicators and head to the 3.1k region.
CM Williams Market Bottom Indicator ~In depth analysis: It says it's a bottom.
MACD ~Bearish on the MACD.
RSI ~Very close to being oversold, meaning more buyers will eventually look to come in and the price could reverse.
FIB Retracement ~Looking to definitely reverse, I don't think we will cross the 0/ support on this move regardless as it will be a first attempt. Could bring good potential swinging opportunities with any oscillations we are likely to see, and change in momentum after touching the 0/support.
MA ~Moving average is bearish, still on the underside of it. This will be good confirmation of bullish if we bounce and cross the underside of it.
Conclusion. ~3934 (just under 4k region) Is my first reccomendation to take profits if you're a swinger. Now is a fine time to buy if you're going long, just wait for some confirmation within tomorrow of where we are heading so you'll know where to wait to pick up that bargain bin XLM.
I'm not a financial adviser and nothing I say is a fact, any losses made through these decisions do not hold me accountable and you should never invest more than you're willing to lose.
If you liked this short post, be sure to follow and like. It really helps out :D
It took me time to understand that believers of these coins companies are not enough to sustain prices. These markets get moved for the all mighty profit. That's just how it is!
Allec
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extremely good coin, for now it's very very cheap. This one is a coin which you are saying in 2019, Ahh stellar why didn't i Bought it? Persons are waiting till IBM is using it for SEPA transactions??? Why wait, it will happen.
XanderCrypto
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@Allec, exactly my thoughts too. I think i said its a great time to get in for a long now. If we break current support 3.1k xlm would be the best gift.
whoisthelorax
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I believe it will tap the 100 day MA in the near future
This dump is clearly how the bulls have given up trying to hold the 50 MA
axcambalache
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thanks
jansalich
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please short posts :)
XanderCrypto
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@jansalich, My posts are intended to explain what my thought process is for people. :)
jansalich
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@XanderCrypto, hahaha I meant short-*timeframe* posts haha. I really enjoyed your analysis haha and would love to see updates :)
sidsniper
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@jansalich, Did you just complain about someone giving detailed free advice? How insane are you?