How XLM is PREPARING FOR Short term +30-50%, mid term >+100%gain
In my previous analyses on XLM I called the first bottom reversal which provided us a quick 50% profit. After that I believed the price would retrace back lower (see previous posts, links are below). The market turmoil today is pulling almost all cryptos lower, XLM is no exception.
However, up front, we could already predict where this correction would take XLM price by simply extending the longer term lower bound trend line. As we could witness today, price hit that line as a bottom and bounced back upward. It has "tested its low". --> Exactly where we could expect it to do so!
Going forward, I do believe this line will hold, and we can also see other indicators confirming this: MACD is pointing to a next upward move, which is also confirmed by RSI and CCI, both being in the oversold range.
Given the inherent volatile nature of cryptos, do keep an eye out on that important support line. There is still a Fibonnacci level below that could be tested, although I don't think it will for the time being.
So this provides a nice buying opportunity, with a short term potential of 30-50% if price bounces back from the lower Bollinger band level. And in the longer term, we should be able to test the previous high, which would result in more than a 100% gain.
I also encourage you to read the Stellar Consensus Protocol white paper (you can easily google it), to give you some fundamental background as to why Stellar is such a good crypto!
Best of luck and keep me posted of your XLM trades! :-)
However, up front, we could already predict where this correction would take XLM price by simply extending the longer term lower bound trend line. As we could witness today, price hit that line as a bottom and bounced back upward. It has "tested its low". --> Exactly where we could expect it to do so!
Going forward, I do believe this line will hold, and we can also see other indicators confirming this: MACD is pointing to a next upward move, which is also confirmed by RSI and CCI, both being in the oversold range.
Given the inherent volatile nature of cryptos, do keep an eye out on that important support line. There is still a Fibonnacci level below that could be tested, although I don't think it will for the time being.
So this provides a nice buying opportunity, with a short term potential of 30-50% if price bounces back from the lower Bollinger band level. And in the longer term, we should be able to test the previous high, which would result in more than a 100% gain.
I also encourage you to read the Stellar Consensus Protocol white paper (you can easily google it), to give you some fundamental background as to why Stellar is such a good crypto!
Best of luck and keep me posted of your XLM trades! :-)
評論:
Link to previous post:
評論:
XLM retraced a bit further amid the entire market turmoil (if not crackdown), but is holding on to our lower thick green trendline where it is currently residing as support (well: actually there is one more horizontal line there, being the one that connects the top of 06/12/2017 and 17/12/2017, and that also calls the bottom at 30/12/2017.
Per 10/01/2018 price broke the Fibonnacci 61,8% and that support level, causing it to immediately plummet 10% to the lower thick green support trendline.
At this time, price holds at the support mentioned!
Per 10/01/2018 price broke the Fibonnacci 61,8% and that support level, causing it to immediately plummet 10% to the lower thick green support trendline.
At this time, price holds at the support mentioned!
評論:
One more thing by the way:
If you would be looking at the daily MACD, you would see a death cross at 08/01/2018, predicting us an overall pricing collapse (regardless of the 4h chart upward and downward movements we saw and that took place! :-) )
If you would be looking at the daily MACD, you would see a death cross at 08/01/2018, predicting us an overall pricing collapse (regardless of the 4h chart upward and downward movements we saw and that took place! :-) )
